Qantas flags lower interim earnings

Australian carrier Qantas flagged on Monday a hit to first half earnings with falling international airfares offsetting a decline in fuel prices. Qantas shares initially slumped more than nine percent, but rebounded in early afternoon trade to be 3.7 percent higher at Aus$3.05. "Like most carriers globally, we are seeing international airfares below where they were 12 months ago," he said in a trading update.