Qantas chief Alan Joyce cuts 5000 jobs
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Jens Meyer, Matt O'Sullivan
Qantas will axe 5000 jobs, ditch unprofitable routes and retire ageing gas-guzzling planes, in the biggest shake up of its operations since it was floated.
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Airline CEO Alan Joyce says the 5,000 announced job cuts are "unavoidable" and "necessary" to protect the company.
Government plans to unshackle Qantas from foreign ownership restrictions could clear way for it to shift jobs overseas, outsource maintenance.
Qantas chief Alan Joyce faces one of the biggest tests of his career on Thursday when he is expected to reveal more than 3000 job cuts, the early retirement of planes and airport terminal sales.
Qantas will axe 5000 jobs in the biggest shake up of its operations since it was floated almost two decades ago.
Qantas has confirmed it has reached agreement to sell its long-term lease on its terminal at Brisbane Airport for $112 million.
Transport Minister Warren Truss has singled Qantas' high costs and wages as a key factor weighing the airline down and says the government will monitor markets' reaction to the airline's reported $252 million underlying loss on Thursday before moving to respond.
Qantas boss Alan Joyce is spot on when he says the $252 million loss reported by the battered icon is ‘‘unacceptable’’ and ‘‘unsustainable’’. Shareholders think so too, with the share price plunging after the company released its results.
International travellers will be hardest hit passengers by cuts to the Qantas network announced today.
Qantas flights at Canberra Airport to continue but there are concerns about the impact of cost-cutting on local jobs.
Premier Denis Napthine does not know how many Victorian jobs Qantas will shed after it announced 5000 job losses across the country on what unions have described as a "black day for aviation".