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Qantas Announces No International Flights Until October

QANTAS – Qantas has recently reported a USD 5.5 billion loss in revenue, adding that there will be no international flights until October.

QANTAS
Qantas planes are seen at Kingsford Smith International Airport in Sydney, Australia, March 18, 2020. Loren Elliott, Reuters/File Photo | Photo from: ABS-CBN News

According to a report from ABS-CBN News. the Australian-based carrier said that it had a loss of 1.1 billion Australian dollars (AUD) or 5.5 billion US dollars (USD) during the second half of 2020.

“These figures are stark, but they won’t come as a surprise,” 

This came from a statement from the airlines’ CEO Alan Joyce.

“A year ago, none of us knew just how big an impact Covid would have on the world, or on aviation. It’s clearly worse than anyone expected,”

“Border closures meant we lost virtually 100 percent of our international flying and 70 percent of our domestic flying — three-quarters of our revenue -– around Aus$7 billion -– went with it.”

Joyce noted that the company had seen a revenue drop of 4 billion AUD during the first half of 2020. Overall, this brings a total impact of the pandemic to 11 billion AUD.

“That is a massive number, probably a bigger number than any other company in Australia is experiencing because of Covid,”

Joyce also announce that there will still be no international flights until the end off October. He said, however, that the cost of keeping those planes on the ground was largely being offset by increased freight operations.

With the successful containment of the pandemic, the airways flagged a return to 60 percent of pre-Covid domestic capacity by the end of March and 80 percent by the end of June.

Based on the report, the CEO said that a total of 8,500 staff would lose their jobs due to the crisis, and 7,500 others would remain suspended until the resumption of international flights.

100 planes have been grounded as part of a 10 billion AUD cost-cutting blitz and restructuring effort that the airways would save 1 billion AUD a year from 2023.

What do you think of this report? How will you react to this? Let us know more about it in the comments below.

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