Qantas predicts US$21m hit from Chile volcano
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Qantas has said it expects the recent disruption from the Chilean volcanic ash cloud to have cost it an estimated US$21 million. The airline has been forced to ground multiple international services over recent days, including all trans-Tasman flights from 7am today. The cloud appears to be clearing however, and flights to and from Melbourne and Sydney are expected to resume from 11am and 2pm today respectively. As a result of the recent disruption, the airline has adjusted its profit forecast for the 12 months ending 30 June 2011 to be in the range of AU$500-550 million (US$529-582 million).
In some brighter news for Qantas, the Aussie carrier has reached a compensation agreement with Rolls-Royce following the A380 engine blow-out which caused the grounding of its superjumbo fleet late last year. While the terms of the settlement are confidential, it is reported to be worth AU$95 million.
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