Australian flag carrier Qantas revealed on Thursday that it will slash 6,000 jobs in a bid to cut costs amid the ongoing effects of the COVID-19 pandemic on the global travel industry. A further 15,000 employees will continue to be stood down without pay, and around 100 aircraft will be grounded for up to 12 months, some for longer, as the pandemic prevents almost all international travel, media reports said.
Qantas CEO Alan Joyce said that the airline was in a strong position before the pandemic but has nonetheless suffered greatly from its effects, making it necessary to undergo a significant overhaul in order to survive.
"We have to position ourselves for several years where revenue will be much lower. And that means becoming a smaller airline in the short term," Joyce said.
"Most airlines will have to restructure in order to survive, which also means they'll come through this leaner and more competitive. For all these reasons, we have to take action now."
(With IANS inputs)
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