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Qantas CEO Alan Joyce has faced up to economic reality and began a drastic round of cost cutting measures, which will see 1,750 jobs cut, 10 planes sold and profit forecast slashed by several hundred millions of dollars.
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The Qantas Group has announced reductions in management staff as part of a fundamental review of the company’s organisational structure.
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In a tactical move designed to minimise the impact of Delta Airlines’ entry on the trans-Pacific route, Virgin Blue subsidiary V Australia has signed an interline agreement with the world’s largest airline.
Continue reading …In a week where it’s cutting 400 staff, laying up five aircraft and cutting capacity by 8 per cent, Virgin Blue has at last received some good news with the airline’s international arm, V Australia, receiving its permit to fly.
Continue reading …Despite the slowing economic downturn and companies’ grim outlook, senior executives’ paycheques are getting fatter, latest research shows.
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Australia’s largest carrier Qantas Airways has reported a record profit before tax of $1.4 billion for 2007-08, but said oil prices would continue to pose a significant challenge for the carrier’s future.
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Qantas and Virgin Blue could expect a brighter future if oil prices stay where they are, while a weaker Australian dollar may cast some clouds over it, according to analysts.
Continue reading …With no end in sight in the pay dispute between Qantas and its aircraft engineers, the airline’s passengers and freight users are set to face rolling stoppages from next Monday.
Continue reading …Qantas has announced that it is taking steps to maintain its profitability in the face of rising fuel prices by raising fares and cancelling its share buy-back, with Virgin Blue also announcing fare increases.
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Boeing has announced that the first flight of the 787 has been moved from the end of the first quarter of this year to around the end of the second quarter to provide additional time to complete assembly of the first airplane.
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