Qantas has cut 6,000 staff and grounded 100 planes for up to a year in a US$10-billion cost-cutting blitz. — Reuters pic
The airline reported a “strong first half of the year” followed by “a near total collapse in travel demand”. Qantas has cut 6,000 staff and grounded 100 planes for up to a year in a US$10-billion cost-cutting blitz. Virgin announced earlier this month it would close budget subsidiary Tigerair Australia and lay off 3,000 staff as it prepares to relaunch under the new ownership of US private equity giant Bain Capital.
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