Qantas Shares Drop as Overseas Flight Earnings Decline

Shares in Qantas Airways have dropped sharply, marking the steepest decline in almost four months, after the airline reported falling earnings from its international operations.

The Australian carrier's international unit saw unexpected declines in profitability, while the company also flagged rising costs from wages and aircraft maintenance.

The earnings miss has concerned investors who had expected stronger performance from the airline's overseas routes as global travel continues to recover.

Qantas cited increasing operational expenses as a factor that will continue to pressure margins in the coming quarters.