Australia’s Qantas Airways posts USD 1.9 billion loss, confirms job cuts
SYDNEY: Australian flag carrier Qantas on Thursday posted an almost US$2-billion annual loss after a “near-total collapse” in demand due to the coronavirus pandemic.
Strict restrictions on travel to Australia and a near-blanket ban on citizens leaving spelled a statutory pre-tax loss of Aus$2.7 billion (US$1.9 billion), including the cost of mothballing its Airbus A380s and huge redundancy payouts.
