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Qantas will cut at least 6,000 jobs across all parts of the business as part of its long-term response to the coronavirus pandemic.
Another 15,000 employees will continue to be stood down without pay over the coming months, particularly those associated with its international operations, as the pandemic prevents almost all international travel.
In a release to the Australian Stock Exchange, Qantas said around 100 of its aircraft would be grounded for up to 12 months, with some for longer.
The airline will permanently retire its remaining six Boeing 747 aircraft six months ahead of schedule, and defer deliveries of new Airbus A321neo and Boeing 787-9 aircraft.
The moves are designed to reduce costs by AUD$15 billion (US$10 billion) during an expected three-year period of lower activity, and then result in $1 billion (US$686 million) per year of ongoing cost savings from the 2023 financial year.
Qantas also announced plans to raise up to AUD$1.9 billion (US$1.3 billion) from investors to “accelerate recovery and position for new opportunities” .
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