QAN -1.51%: the troubles at the flying kangaroo continued today with more money being thrown at upgrading the customer experience and oil prices weighing on earnings. The airline will spend an additional $80m to address ‘pain points,’ as they put it, on better contact options, better in-flight catering and improving frequent flyer availabilities, just some of the issues that have been underinvested for some time. Fuel prices are expected to have a $200m impact on the first half for a total cost of $2.8b, while FX will knock another ~$50m off the bottom line. The announcement looked to soften the blow by saying trading conditions for the first quarter had remained robust, though shares still closed at 11-month lows.
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