Qantas set to axe 5000 jobs as massive loss looms
7:20 AM Tuesday Feb 25, 2014
Qantas is about to announce massive financial losses this week, with the potential for up to 5000 job losses.
Qantas is set to axe up to 5000 jobs in response to massive financial losses.
The airline is also reportedly trying to sell the lease on its terminal at Melbourne Airport.
Qantas is expected to post a loss of up to $300 million for the first half of the 2013/14 financial year when it announces its financial results later this week.
Job cuts, previously forecast to be 2000, are now expected to be closer to 5000, News Corp Australia has reported.
It said 1500 of those jobs could come from the executive and support divisions of the Qantas group, and a large number of jobs would be abolished by the end of March.
Final job numbers could change before Thursday, the report says.
The airline has also reportedly been negotiating to sell the long-term lease for its Melbourne Airport terminal.
Sources at the airline said negotiations relating to the future of Qantas' Melbourne lease are continuing.
Qantas last week denied market speculation it was planning to cut up to 3000 jobs, as well as shed overseas routes.