Qantas to cut 1,000 jobs, warns of A$300m loss
It cites challenges including stiff competition, strong A$, high fuel prices
[SINGAPORE] It looks like Qantas's strategy of aligning itself with Middle Eastern carrier Emirates has yet to pay off.
Australia's national flag carrier said it would shed at least 1,000 jobs and warned of a loss of up to A$300 million (S$340 million) in the first half of financial year 2014 as it continues to battle a tough operating environment both at home and abroad.
The airline has said it is facing immense challenges, including stiff competition on the domestic front, a strong Australian dollar and high fuel prices. This has prompted its dramatic cost-cutting strategy with the aim of saving A$2 billion over the next three years, partly through retrenchment of at least 1,000 empl…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
First Reit reports 3.2% lower Q1 DPU of S$0.006 amid interest rate, forex headwinds
Vietnam holds first gold auction in 11 years to stabilise market
How Hudson Yards went from ghost town to office success story
Hot stock: Nanofilm jumps 13.1% amid heavy trading on improved Q1 results
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece