MELBOURNE - Qantas Airways jumped the most in about two weeks in Sydney trading after raising international fares across its network for the first time in almost 18 months on rising travel demand.
Australia's biggest carrier climbed as much as 4.7 per cent, the largest intraday gain since December 1,
and eventually closed up 3.5 per cent at A$2.67. The carrier will increase economy-class fares as much as 5 per cent on flights to destinations including Japan, North America and Europe, it said yesterday.
Qantas plans to raise first- and business-class prices as much as 3 per cent from this Friday as a rebounding economy revives travel. The carrier's passenger numbers rose at least 6 per cent from a year earlier for a third straight month in October.
- BLOOMBERG
