Qantas cuts jobs, reviews maintenance operations

Qantas will slash 500 jobs and review maintenance operations after announcing an 83 per cent drop in half yearly profits.

The airline said its pre-tax profits for the six months ending December 31 fell to $202 million, down $215 million from the previous year. It attributed the drop to higher fuel prices and the cost of last year’s industrial action, which the airline has put at $194 million. Statutory profit before tax for the half year was just $48 million, even though revenue increased six per cent (to $8 billion).