Qantas, travel stocks punished as oil prices climb higher

Qantas and other travel-exposed stocks declined sharply on Monday as surging oil prices and the threat of more sanctions on Russian energy exports hammered investor confidence.

Oil prices are an issue for Qantas and other airlines as fuel is one of the largest operating expenses and is linked closely to oil.Travel agents Flight Centre and Corporate Travel Management were also caught up in the sell-off; their shares fell 4.1 per cent to $17.05 and 2.9 per cent to $21 respectively.– which passed $US135 a barrel in the morning before retreating from those highs – and uncertainty around the war in Ukraine.

It’s an issue for Qantas because fuel is one of the airline’s largest operating expenses and is linked closely to the oil price.in late February that it has significantly hedged its fuel costs until June, but its strategy may mean it faces pressure soon after. Ms Liu said Qantas would likely have to address the market again to calm investors if the sell-off continued.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Nowhere to hide for travel stocks hit by oil and warWorld travel stocks face a difficult outlook as the war in Ukraine poses a deepening challenge to growth, and the intensifying rally in crude oil cripples aviation profit margins. Travel stocks just can’t get a break
Источник: FinancialReview - 🏆 2. / 90 Прочитайте больше »

Markets slide as soaring oil and gas prices stokes stagflation worries – business liveMarkets slide as soaring oil price stokes stagflation worries – business live
Источник: GuardianAus - 🏆 1. / 98 Прочитайте больше »

Markets slide as soaring oil and gas prices stoke stagflation worries – business liveRolling coverage of the latest economic and financial news
Источник: GuardianAus - 🏆 1. / 98 Прочитайте больше »