Qantas Airways Limited
(ASX:QAN) is reporting that group revenue was down 1.1 per cent in March compared to a year earlier and further softness could impact full year results.
The airline says that traffic over Easter and the start of the school holidays fell well below expectations compounded by the timing of the two holiday periods this year.
Qantas says it will lower capacity in response to lower demand which it says is related to the upcoming federal election and the recent drop in consumer confidence.
Forward bookings for April and May are also lower prompting Qantas to drop three services from Sydney to LA.
Qantas Airways reported a net profit of $688 million for the six months to the end of December 2015.
