QANTAS ANNOUNCEMENT: Everything You Need To Know

Alan JoyceGetty / Greg Wood

Qantas put out a horror announcement today.

Here’s what you need to know:

  • It expects to post a loss of between $250 million and $300 million for the six months to 31 December
  • Shares have plummeted, down more than 15%
  • The airline will cut up to 1000 jobs through an existing cost-cutting program, which it’s going to speed up
  • Boss Alan Joyce and the board are taking a pay cut. There’s no bonuses for execs, and they get their pay frozen
  • It will review how much it spends with its top 100 suppliers
  • Qantas says government help would not have prevented any of it happening

You can read our full report here.

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