Qantas will slash capacity by 5% due to rising fuel prices and warned the Australian Stock Exchange yesterday that it plans to cut its fleet, network and workforce as it expects its fuel bill to increase by more than A$2 billion ($1.92 billion) in the 2008-09 fiscal year. CEO Geoff Dixon said in a statement to the exchange: "The fact is that fuel prices are something we have no control over, so we have to look harder at areas where we do have control. Despite our fuel hedging strategy, fuel ...

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.