Rising fuel costs and "aggressive competitor capacity increases" contributed to a 9.6% decline in Qantas's half-year profits to A$352.6 million ($261.3 million) in the six months ended Dec. 31 from A$390.2 million in the year-ago period. The airline expects those difficult conditions to continue through the current semester, saying, "While further reforms in the business are underway, and coupled with the high fuel price, we do not expect to achieve the same levels of profitability in the ...

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