Qantas yesterday announced its intention to ground and sell 10 aircraft, eliminate 1,750 more jobs (including 500 management positions) and defer at least 16 orders as it battles the economic downturn, which it warned will result in a pre-tax profit for the fiscal year ending June 30 of A$100-A$200 million ($72.5-$144.9 million) rather than the A$500 million forecast in November. The new cuts will result in a 5% capacity reduction, predominantly on its domestic network but also on routes to ...

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