This archive report was first published on 25 June 2020.
Published on June 25, 2020, Qantas CEO Alan Joyce announced a three-year plan to save the company from the 'biggest crisis our industry has ever faced.'
The plan includes cutting 6,000 jobs, with half of the company's 29,000 staff remaining on leave for months. Domestic travel is beginning to pick up, but international borders are expected to remain closed until next year.
"We have to position ourselves for several years where revenues will be much lower. And that means becoming a smaller airline in the short-term," Joyce said in unveiling the 'post-COVID recovery plan.'
The plan also includes raising up to Aus$1.9 billion in equity and slashing Aus$15 billion in costs. Qantas grounded around 150 aircraft in March, including most of its wide-bodied planes, and 100 of those will remain out of service for at least a year.
There are hopes for a limited resumption of international flights between Australia and neighbouring New Zealand, which has also successfully contained the disease.
