Qantas has swung to a $1.9 billion after-tax loss for the 2020 financial year after the COVID-19 pandemic forced it to ground most of its aircraft and halt international flights entirely.
Qantas chief Alan Joyce said it is unlikely the airline will restart international flying before June next year, with the possible exception of flights to New Zealand.The group reported a statutory loss before tax of $2.7 billion. The company did not announce a second-half dividend. Qantas' net loss was driven by a $1.4 billion non-cash write-down to assets including its fleet of Airbus A380s, which have been parked in the Californian desert for at least the next three years, and $642 million in redundancy and other restructuring costs. Excluding those one-off costs, Qantas reported an underlying profit of $124 million, down 91 per cent from last year.
In June, Qantas said it would axe 6000 jobs, or around 20 per cent of its workforce; retire its remaining 747s ahead of schedule and mothball most of its international aircraft for 12 months in an effort to cut costs. The airline is currently flying around 20 per cent of its pre-COVID domestic capacity.
Qantas 2025
Qantas Crocodile tears from the rainbow flag CEO 2day... I bet he’s still taking home millions while mum & dads can’t pay the bills...
RBJRON Qantas Sounds like Joyce ( the other one) is having a tantie today.
Qantas I’m betting it be 2022
Qantas Could not care less
Qantas Yet other airlines continue to fly internationals in. No risk there.... We're locked in like dogs while Gov makes deals with foreign powers to line their pockets.
Qantas Crocodile 🐊 tears from Alan today I see , Any chance him taking a pay cut ?🤷♂️
Qantas And the CEO takes a cut in his salary and hands it back to staff
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