National and World

Qantas will cut 5,000 jobs after losing $211 million

February 26, 2014 5:22 pm

Sydney (Australia), Feb 27 (Entravision) .- The Australian airline Qantas announced today it will cut about 5,000 jobs after posting losses of $211 million (EUR 154 million) in its net profit in the second half of 2013.

“We are facing one of the worst conditions ever seen in Qantas,” said its executive director, Alan Joyce, in a press release to the ASX stock exchange of Australia.

Qantas search save approximately $1,792 million (1,309 million euro) for financial year 2016-17 and reduce their capital expenditures on $895 million (655 million euros) in the next two financial years.

The airline also announced that get rid of the agreed rental Brisbane airport, valued at approximately $100 million ( €733 million), although it would maintain the exclusive use of the northern sector of the terminal until 2018.

Qantas said that of the 5,000 jobs concerned, some 1,500 are in management positions and non-operational, and added a freeze on the salaries to the rest of your entire staff.

The company also indicated that it will sell or give you low to over 50 aircraft ahead of schedule and to postpone the purchase of the aircraft A380 and B787-8, in addition to eliminating non-profitable routes such as the Perth to Singapore.