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SHARES IN AUSTRALIA'S QANTAS FALL AMID UNCERTAINTY ABOUT IRAQ.
AsiaPulse News, February, 2003
SYDNEY, Feb 20 Asia Pulse - Qantas Airways Ltd (ASX:QAN) shares fell sharply today because of concerns the airline's 2002/03 profit may be hurt by a falloff in bookings amid uncertainty about a war with Iraq.
The airline defied the difficult aviation market to today report it had more than doubled its first half net profit to a record A$352.5 million (US$208.86 million), from A$153.5 million (US$90.95 million) previously.
It also revealed plans to combat a fall in forward bookings, including staff reductions and a freeze on discretionary expenditure.
Chief executive Dixon said with no further deterioration in demand, Qantas was still on track to achieve its full year profit target.
"However, if tensions continue around Iraq and terrorism,...
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