Qantas forecasts profit to slide by up to 90%

Qantas has said it expects its profits to fall by as much as 90% amid growing losses at its international operations and higher fuel costs.

It has forecast a profit before tax of between A$50m ($48.6m; £31.6m) and A$100m for the year ending 30 June.

That is down from a profit before tax of A$552m during the same period a year earlier.

The firm's shares dropped as much as 18% on the Australian Securities Exchange after the profit warning.

Source & Image : BBC