Qantas Airways (ASX:QAN) is struggling with a severe setback, as it experiences a 12.6% drop in its shares for the month.

This is tied to be the most sizeable monthly decline since June 2022, considering the current losses sustain.

In early September, the airline expressed regret after being sued by Australia’s competition regulator over the sale of tickets for cancelled flights.

Additionally, Qantas announced that its long-standing CEO, Alan Joyce, will be accelerating his retirement.

Further exacerbating the situation, on September 15, the competition regulator of Australia suggested denying authorisation for Qantas and China Eastern Airlines to manage passenger and cargo transport operations between Australia and China.

Towards the end of September, it was revealed that Qantas anticipates that elevated fuel prices will lead to an increase of approximately AUD 200 million ($129.12 million) in the airline’s fuel bill for H1 of FY24.

As a result, Qantas has seen a 13.8% decrease in its year-to-date gains as of the most recent closure.

Qantas Airways (ASX:QAN) is an Australian airline, noted as the flag carrier of Australia and its largest by fleet size, international flights, and international destination.