The Australian share market has been hauled lower by last week's fall on US markets and the continuing flight disruptions in Europe.

Qantas had fallen more than 2 percent to $2.92 by 11:45am (AEST), as investors wonder how much the European air travel disruptions will cost airlines.

Virgin Blue was down more than 4.5 percent.

The major banks were all about 1.5 percent lower after the US lawsuit against Goldman Sachs for alleged securities fraud sent jitters through financial institutions.

The All Ordinaries are 60 points lower at 4,948, and the ASX 200 has glided 61 points to 4,923.

The Australian dollar has also eased to 92.24 US cents.


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