Qantas posts AUD 235 m H1 loss, cuts 5,000 jobs

Reporting loss of AUD 235 million for the first half year, Australian national airlines Qantas on Thursday announced axing 5,000 jobs in a bid to cut costs.

Qantas Chief Executive Alan Joyce said the result was unacceptable and the company would slash 5,000 full-time equivalent positions.

“We have the only profitable carriers operating in domestic operation today,” he said .

“We haven’t added as much capacity as our competitors have over the last few years, they’re absolutely employing the position of adding capacity even though they are losing a significant amount of money and their strategy is loss-making,” Joyce added.

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