From ASX Announcement....
Qantas will implement the following measures:
A further five per cent reduction in flying capacity, affecting frequency on Qantas Airlines international and domestic routes;
Cuts to freight capacity, on both domestic and international routes;
Grounding the equivalent of ten aircraft and making them available for sale;
Deferring aircraft orders, including four Airbus A380s and twelve 737-800 aircraft;
Exploring a number of options with Boeing about 787-800 aircraft including reducing, in the near-term, the number of aircraft to be delivered;
Reducing capital expenditure by at least $800 million in 2009/2010, and;
Removing an additional 500 management positions.
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.....but the capacity reductions to protect the long-term viability of the overall Qantas Group mean that up to 1,250 equivalent full-time positions will be affected in addition to the management reductions being made.
500 Managers !!!!!!!!!!