Australia National Airline Qantas To Cut 5,000 Jobs As Part Of Cost Cutting Plan
Bad news for aviation industry in Australia where national air company Qantas decided to give up no less than 5,000 jobs in efforts to diminish the operational costs.
Australian airline Qantas unveils large job cuts to offset financial losses (Public Domain)
Furthermore, Qantas aims at getting rid of unprofitable flights and retiring aging fuel-guzzling aircraft, said airline’s boss in a live press conference in Sydney.
Country’s government is currently trying to figure out a way to help the company after the shaking announcement over its massive financial losses.
During the press conference which started at 10:30 a.m. local time, a journalist asked Qantas’ chief why the company presents its results at Sydney’s most expensive hotel, The Westin, at Martin Place, and not its new facility in Mascot.
In response, Joyce motivated the choice as related to the large interest generated in Qantas’s results.
“The airline must accommodate the press, analysts, investors and its own staff, and the Westin is the best venue for that,” Joyce says.
Partial information from the half-year revenue report as published by SMH.com.au
- Qantas was confronted with a dramatic $235 million loss in the last 6 months before December 2013, by contrast to $109 million profit for the same time interval a year earlier.
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- Total income dropped 4 % to $7.9 billion.
- Qantas’ domestic business saw a 74 % decline in pre-tax profit to $57 million, which was apparently caused by harsh competition in the domestic market as well as the growth in capacity.
- Situation was overshadowed by Qantas’ international operations, which collapsed to a $262 million loss in comparison to a $91 million loss a year before.
- Qantas said its cooperation with Emirates counterbalanced to some extent the impact of capacity on routes in and out of Australia increasing by 9 %.
- Also company Jetstar faces hard times as it recorded a $16 million loss compared to a $128 million profit previously, showing ‘‘the impact of domestic competitition’’ but also $29 million in start-up losses coming from its associate air companies across Asia, including Jetstar branded airlines in Vietnam, Japan and Singapore.
Live video: Qantas unveils massive job loss as part of cost cutting plan
Video: Qantas announced huge job cuts