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image captionQantas cost cutting measures include a two-year wage freeze
Qantas has announced new cost-cutting measures to help it deal with the impact of the coronavirus pandemic.
The Australian carrier also said it would report an annual loss before tax of more than $1.5bn (A$2bn, £1.1bn).
But it added that its debt pile had peaked and was likely to fall as domestic travel was on track to hit pre-pandemic levels.
Qantas said its international division was losing about $2.3m a week, down from $3.9m last month.
Its latest cost-cutting plans include a two-year wage freeze, slashing travel agents commissions for international flights and offering voluntary redundancies to cabin crew in its international business.
Qantas accelerates cost cuts as $1 5bn loss looms
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Qantas accelerates cost cuts as $1 5bn loss looms
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By Reuters Staff
2 Min Read
SYDNEY, May 6 (Reuters) - Qantas Airways Ltd said on Thursday it would keep its corporate headquarters in Sydney and low-cost arm Jetstar would retain its head office in Melbourne after reviewing its property portfolio in an effort to cut costs during the pandemic.
It will make some smaller moves such as Jetstar relocating some heavy maintenance on its Airbus A320 fleet from Singapore to Brisbane as part of a trial in 2021, with the potential for this to be extended. Qantas and Jetstar will also expand their maintenance operations in Melbourne.
Qantas had gone to state governments asking for financial incentives to maintain or shift the location of its headquarters or other operations to help it weather an A$11 billion ($8.52 billion) fall in revenue due to the decline in travel during the pandemic.