Qantas to Retire A380s from 2028, in Talks with Boeing on 20 Options
BA sits 20% above its 52-week low of $176.77.
Summary
Qantas reported a 13.8% drop in full-year pre-tax underlying profit to A$2.06 billion, hurt by surging jet fuel prices from the Middle East conflict. The airline plans to retire its A380 fleet from 2028 and is in talks with Boeing and Airbus to convert 20 options to firm orders from 2030. For Boeing, the potential conversion of options into firm orders for wide-body jets is a positive demand signal, though the retirement of A380s does not directly affect Boeing's current backlog. The news is moderately relevant to Boeing as a supplier, but the primary impact is on Qantas' own financials and fleet strategy.
At the time of this announcement, BA was trading at $211.95 on NYSE in the Trade & Services sector, with a market capitalization of approximately $166.8B. The 52-week trading range was $176.77 to $254.35. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.