Qantas cuts 5000 jobs, posts $252M first half loss

Feb 27, 2014, 12:29 AM EST
 Qantas aeroplanes wait at Melbourne Tullamarine Airport on February 25, 2014 in Melbourne, Australia.
AFP/Getty Images

Struggling airline Qantas has announced plans to cut 5,000 jobs, after reporting a heavy financial loss. It is part of the Australian carrier's plans to cut costs by A$2bn ($1.79bn: £1.80bn) over the next three years. The cuts were announced alongside an underlying pre-tax loss of A$252m for the six months to the end of December. The airline, which also plans to cut its fleet by more than 50 aircraft, said it faced tough competition in both international and domestic operations.
Qantas to cut 5,000 jobs after A$252m half-year loss [BBC]
Slashing jobs and jets, Qantas makes plea for state aid [Reuters]