SYDNEY: Qantas Airways Ltd is axing at least 20% of its workforce and intends to raise up to A$1.9 billion ($1.3 billion) of equity under a sweeping cost-saving plan prompted by the coronavirus pandemic.
The Australian airline also said on Thursday it will ground 100 aircraft for up to 12 months and retire its remaining Boeing Co 747 fleet immediately, six months ahead of schedule, given travel restrictions imposed by the global health crisis.
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