Qantas shares surge on forecast fall in 2015 fuel bill

Sydney

SHARES of Qantas Airways Ltd surged to their highest level in more than six years in Sydney after Australia's biggest carrier said the global drop in oil prices would help cut its fuel bill this year.

The stock jumped 7.2 per cent to A$3.56, the highest level since September 2008, after Qantas said it would spend about A$550 million (S$586 million) less on fuel this year amid a 36 per cent drop in jet fuel prices. Qantas shares have almost tripled in the past year.