SYDNEY - Australian airline Qantas on Thursday announced a major reduction in flights to Asia and freeze recruitment as the deadly coronavirus outbreak that began in China impacts demand and eats into profits.
Its low-cost brand, Jetstar, would likewise reduce its Asia flights by 14 per cent until the end of May, impacting routes to Japan, Thailand and mainland China. Qantas chief executive Alan Joyce said the outbreak had led to a drop in demand for flights across the region and was expected to impact the company's profits by up to A$150 million in the 2020 financial year.
"We can extend how long the cuts are in place, we can deepen them or we can add seats back in if the demand is there. This is an evolving situation that we're monitoring closely," he said.Also on Thursday, Qantas reported its underlying profit before tax fell only slightly to A$771 million, with lower fuel costs helping to offset the slowdown.
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