Qantas: 1 000 jobs axed as losses loom

Published Dec 6, 2013

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Qantas would axe 1 000 jobs as it faced “immense” challenges, the Australian carrier stated in a shock profit downgrade yesterday, flagging a half-year loss of up to A$300 million (R2.8 billion). Chief executive Alan Joyce said there had been a “marked” deterioration in conditions and the airline was battling “extraordinary circumstances”, including record fuel costs, a strong Australian dollar and fierce competition. The shares slid as much as 17.26 percent before closing 11.2 percent down at A$1.07. – Bloomberg

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