Qantas to slash 1,000 jobs in major overhaul

Qantas Airways said on Tuesday it plans to cut up to 1,000 jobs as part of a major shakeup of its international business that will include the launch of a new Asia-based airline. The flagship Australian carrier, which is struggling to offset losses from its international operations, will buy between 106 and 110 Airbus A320 aircraft, and retire older planes as part of the five-year plan.It will also defer the delivery of six Airbus A380 superjumbo planes for up to six years. The A380s were earmarked for long-haul routes to destinations such as London which Qantas has faced increased competition.The changes are expected to affect around 1,000 jobs, the airline said. Qantas International has forecast a loss of Australian dollars 200 million ($210 million) for the 2011 financial year due to stiff competition and costs that the airline says are 20 per cent higher than its key competitors such as Emirates. CEO Alan Joyce said the changes were needed to ensure the airline’s profitability. “Qantas International is a great airline with a proud history,” Joyce said in a statement. “But it is suffering big financial losses and a substantial decline in market share. To reverse that decline we need fundamental change.” From / Gulf Today