Qantas averts its collision course

The scale of Qantas' losses - driven by intense competitive pressures both at home and overseas - leave Alan Joyce no choice but to carve radically into the airline's cost base.

The Qantas losses were at the lower end of expectation and the planned job losses were at the higher end. The scale and underlying causes of the losses, however, explain the brutal nature of the response and the 5000 job losses that will occur as Alan Joyce tries to cut $2 billion from the group’s cost base over the next three years.

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