Qantas Group shares came perilously close to dropping below $2 on the day the airline announced it was suspending two-thirds of its staff.

Scott Morrison announced all non-residents and citizens will be banned from entering Australia on Friday.

In a drastic move, Qantas group has announced extensive changes to its network including the cancelling of international flight due to the ongoing effects of the COVID-19 outbreak. The changes include revised mainland and regional networks and suspended routes and both Qantas and Jetstar scheduling.

Suspended Qantas staff are bailing out the airline by being asked to use up leave balances, the Transport and Workers Union has said.