29 JUNE 2020
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Following the announcement last week that it has cancelled all international flights until late October (see BTN 22 June) Qantas Group is planning to reduce its pre-coronavirus workforce by at least 6,000 across all parts of the business as it seeks to save up to US$10bn over the next three years in the wake of the crisis.
The group’s three-year plan includes “rightsizing” its workforce, restructuring to increase efficiencies across its operations and recapitalising through an equity raising of up to US$1.9bn to boost its resilience for recovery.
The airline is grounding up to 100 aircraft for up to 12 months, with some kept in storage for longer, and it will retire its six remaining Boeing 747s with immediate effect six months ahead of schedule. In addition, deliveries have been deferred.
The airline said around 8,000 of its 29,000 employees are expected to have returned to work by the end of July, increasing to 15,000 by the end of the year, Qantas having an active workforce of 21,000 in 12 months’ time. Of the 6,000 job losses, these will be spread across the whole airline including corporate roles, public contact and ramp operations, cabin crew, engineering and at least 220 fewer pilots.
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