SYDNEY (AFP) - Australian carrier Qantas announced the axing of 1,000 jobs and warned of "immense" challenges ahead in a shock profit downgrade Thursday, flagging a half-year loss of up to Aus$300mil (US$271mil).
Chief executive Alan Joyce said conditions had seen a "marked" deterioration and the airline was battling "extraordinary circumstances" including record fuel costs, a strong Australian dollar and fierce competition from subsidised rivals.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!