Australia's Qantas drops to near one-year low on Middle East conflict

Virgin Australia Holdings

05/03/2026 23:57

** Shares of Qantas Airways QAN.AX fall as much as 3.1% to A$8.8, their lowest level since May 2, 2025

** Airline set for worst week since June 14, 2022, if losses hold

** Oil prices soar during intensifying Middle East conflict, sending airline stocks down

** Route closures, high fuel costs weigh

** Peer Virgin Australia VGN.AX down as much as 3.2%, hits lowest level since July 7, 2025

** YTD, QAN down 14.1%, VGN down 17.4%

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))