Qantas to make further job cuts :: 16/04/2009 :: Airport Parking News
The carrier has also reduced its full-year profit forecast by substantially more than 50 per cent.
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Qantas to make further job cuts
Thursday, 16th April 2009
Qantas is warning that its full-year profits are more likely to be in the range of A$100 million to A$200 million, which would be much lower than its earlier forecast of A$500 million.
It stressed than in order to survive the current economic downturn, an additional 500 management positions would be cut from its workforce, and that there are as many as 1,250 more positions that are also at risk.
During the downturn the airline has been facing a continuing decline in passenger demand – as have many carriers around the globe.
"Market conditions have deteriorated, especially in our international business," said Alan Joyce, the Qantas chief executive.
"We have no choice but to lower our profit forecast and make major changes to ensure Qantas can weather the current commercial environment," Joyce added, saying that the difficult trading environment was likely to "continue for some time."
In March, Qantas revealed that it was cutting its senior management ranks by 90 positions, which comes on top of the 1,500 job cuts that were announced in 2008.
The carrier has also deferred its orders for new aircraft.
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