Qantas: Get ready for bad news
Qantas is facing a huge week with the company’s half-year financial results being aired at the Westin Hotel in Sydney on Thursday morning.
CEO Alan Joyce will announce the loss of thousands of Qantas jobs – speculation on job numbers to be axed varies between 3000 and 5000 – as the airline seeks to cut its costs and revive its balance sheet.
The airline is expected to unveil a half-year loss of up to $300 million
There is also speculation that Qantas will ground its Boeing 767 fleet, cut services and amalgamate some Jetstar and Qantas flights.
The airline has denied that it plans to cutback on London services.
Qantas hopes the attack on its cost base will persuade the Australian government to offer assistance, specifically related to changes to the Qantas Sales Act, which restricts foreign ownership of the airline.
This week Qantas cancelled its code share with South African Airways from May 31, leaving Perth customers to instead fly to Johannesburg via Dubai, on Emirates, a journey that will take considerably longer than the direct route.
Ian Jarrett
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