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Just in via Sky News:
Qantas has requested a trading halt ahead of an announcement to axe 6,000 jobs – 20% of the workforce. This comes as the global aviation industry is facing three years of disruptions from COVID-19.
The company is expected to announce that a further 15,000 employees will remain stood down until further notice.
The company is also planning to raise $1.9 billion in equity to help it continue flying.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.