SYDNEY (Reuters) – Qantas Airways Ltd said on Friday that Australian state border closures due to the coronavirus pandemic had cost it A$100 million ($71 million) in earnings in the first quarter and would have a negative impact in the second quarter as well.
The airline is running less than 30% of its normal domestic capacity due to border closures, having earlier expected to be operating around 60% at this time, Qantas Chief Executive Alan Joyce said in a speech at the airline’s annual meeting of shareholders.
“Essentially, this is a timing issue,” he said. “We know the upswing will materialise – just later than planned.”
