"Qantas has revealed the extent of the pain from the battle for passengers in the domestic market, with both its premium and low-cost flying operations suffering declines in first-half earnings."
"Qantas’s domestic operations posted a 34 per cent fall in pre-tax earnings to $218 million in the half, reflecting the battle for lucrative corporate customers with Virgin Australia."
"Qantas emphasised that all of its operations including Jetstar were profitable apart from its premium international division. But it highlighted the fact that the losses of Qantas International had been reduced by 65 per cent to $91 million in the first half."
Read more:
Boeing cash papers over Qantas cracks
Can't wait for the knee jerk response from the genius ruling class.
One things for sure, more exec & management positions worth millions in salaries will be created at the cost of real frontline jobs and an extremely thinning profit base.
Also worth a note is the fact that usually major companies make most of their profits in the "first half" of the financial year.
This redundancy cloud is here to stay with a rolling process of VR/CR for many years to come.