Qantas in 91pc fall

SHARES of Qantas Airways plummeted to an all-time low today after the Australian flagship carrier forecast a drop of up to 91pc in full-year earnings.

Qantas expects pre-tax profit in 2011-12 of AUS$50m (€39m) to AUS$100m (€78m) - a plunge from the previous year's AUS$552m (€431m).

Turmoil in Europe and competition at home was blamed.