Qantas has confirmed 5000 job losses and a statutory loss after tax of $235 million; revenue: $7.9 billion, down 4%; capex spending cut by $1 billion; 50 aircraft sold or deferred and selling its lease at Brisbane airport. From the AFR:
The job cuts, to be made over a three year period, will include the loss of 1500 management and non-operational roles and the restructure of line maintenance and catering facilities and are part of an effort to reduce costs by $2 billion over the next three years.
The airline will apply a wage freeze immediately to enterprise bargaining agreements under negotiation and will propose them for other unionised staff. Executives have already taken a pay freeze.
