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Qantas shares hit by Standard & Poor's review

8 June 2012 Last updated at 15:30 BST

Qantas Airways shares have fallen below one Australian dollar for the first time since the carrier went to the markets in 1995.

The sharp fall comes after ratings agency Standard & Poor's put the airline on review for a possible downgrade.

The airline has struggled with slowing demand and higher fuel prices, as Duncan Kennedy reports from Sydney.