Capitalize Financial
No Result
View All Result
Tuesday, January 31, 2023
  • Home
  • Business
  • Economy
  • World
  • Markets
  • Tech
  • Real Estate
Capitalize Financial
  • Home
  • Business
  • Economy
  • World
  • Markets
  • Tech
  • Real Estate
No Result
View All Result
Capitalize Financial
No Result
View All Result
Home Sports

Qantas accelerates cost cuts as $1.5bn loss looms

by capitalizefinancial
May 20, 2021
in Sports
0
Qantas accelerates cost cuts as $1.5bn loss looms

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.

Separately on Wednesday, the parent company of rival Singapore Airlines revealed a record annual loss of S$4.27bn ($3.2bn) – worse than the average S$3.27bn forecast predicted by eight analysts, said a Reuters report.

In a statement on Tuesday, Qantas said it sees more positive times ahead as a rebound in domestic travel to near-normal levels would help it to continue to cut its debts.

“The fact we’re making inroads to the debt we needed to get through this crisis shows the business is now on a more sustainable footing,” Qantas Chief Executive Alan Joyce said in a statement.

“The main driver is the rebound of domestic travel, which now looks like it will be bigger than it was pre-COVID, at least until international borders re-open.”

Read more…

No Result
View All Result

Subscribe Us

By clicking on Subscribe, I confirm that I have read and agree to the terms set forth in the Privacy Policy and Terms of Service including Capitalize Financial ability to use and share my information and Capitalize Financial, or third-party companies and business partners, may send me offers for products and services at the email address I have provided. I understand that my information may be supplemented with additional information obtained from other sources.
  • Trending
  • Comments
  • Latest

Capital One Savings Account Rates for November 2022

Gas Prices Today, October 22, 2022: Check the cheapest Gas Stations Today

7 personal finance tips for Gen Z, from a Gen Xer

NASA’s Orion spacecraft breaks Apollo 13 flight record

10 Best Finance Podcasts for 2023

10 Best Finance Podcasts for 2023

NASA’s Webb Telescope Confirms First Exoplanet

Finance industry sacks staff as economy falters

7 personal finance tips for Gen Z, from a Gen Xer

Recent News

10 Best Finance Podcasts for 2023

NASA’s Webb Telescope Confirms First Exoplanet

Categories

  • Business
  • Cryptocurrency
  • Economy
  • entertainment
  • finance
  • health
  • Markets
  • Music
  • Opinion
  • Politics
  • Real Estate
  • Science
  • Sports
  • Tech
  • World

Site Navigation

  • Contact Us
  • Privacy & Policy
  • Terms Of Service
  • Unsubscribe

© 2021 capitalize Financial All Rights Reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
    • Home 1
    • Home 2
    • Home 3
    • Home 4
    • Home 5
  • World
  • Economy
  • Business
  • Opinion
  • Markets
  • Tech
  • Real Estate

© 2021 capitalize Financial All Rights Reserved