Why did the Qantas share price fall 6% today?

Qantas shares had a horror day on the share market today, as shares plunged 6.20% to $4.84 at the end of trading on Tuesday. The S&P/ASX 200 Index (ASX: XJO) fell 4.19% today. Travel shares are falling in the middle of a tough day on the ASX 200 today. This followed US major share markets plunging overnight. According to The Motley Fool, Rex Airlines has again accused Qantas of “predatory” attacks on the Regional Express Holdings Ltd (ASX: REX) network. REX announced it would commence flights between Melbourne and Devonport in Tasmania. This followed Rex pulling out of the Melbourne to Albury route. However, Sydney Morning Herald reported that QantasLink CEO John Gissing dismissed these claims from Rex, describing Qantas’ decision to fly certain regional routes as competition.

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