Covid-19 forces Qantas to cut capacity, delay A350 order as CEO gives up pay for this year
Australian airline is now grounding the equivalent of 38 planes; it is also cancelling plans for an A$150m off-market share buyback to preserve cash
Wed, Mar 11, 2020 - 5:50 AM
Qantas' capacity reduction for the June quarter will rise to 17 per cent, up from 4 per cent at the time of its interim results.
"We are using every lever we can to avoid redundancies," says Mr Joyce (above). "We think we can do that into September with these cuts."
BT FILE PHOTO
QANTAS Airways Ltd will cut its international capacity by nearly 25 per cent over the next six months and delay an order for Airbus A350 planes as part of sweeping changes in response to a coronavirus-led plunge in passenger demand.