2313 GMT - UBS analysts say the strong fares momentum in late 2024 has slowed, noting that Australia domestic fares are currently tracking down 4% year-over-year. The drop in fares comes despite a similar drop in capacity due to the exits of Rex and Bonza. Australia international fares, meanwhile, have slowed to 2% year-over-year growth. Although Qantas could still post a better-than-expected result in 1H, UBS says the outlook appears more challenging later in FY 2025 and into FY 2026. The picture is slightly better in New Zealand, with Air NZ domestic fares growing at 1% and Air NZ international fares growing at 3%. UBS has neutral ratings on both Qantas and Air NZ. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
February 16, 2025 18:13 ET (23:13 GMT)
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