After announcing that Qantas will sack over 6000 staff, the CEO Joyce also added that overseas travel is at least one year away.
“Revenue for international airlines is expected to decline by a further 31.5 per cent in 2020-21, as international borders remain closed until a COVID-19 vaccine becomes widely available,” he said.
He also added that he did not expect any meaningful international travel until at least mid-2021 or even longer.
To cope with the current reduction in revenue due to coronavirus, Qantas said that its looking at reducing $15 billion in costs over the next 3-years.
Joyce said that he would need to reduce his workforce by thousands and continue to stand down 12,000 people, at press conference today.
He added that the airline will posspond all orders for new aircraft and will immediately retire all 747 aircraft.
New aircraft that had already been ordered and paid for would remain in storage.
“Project sunrise” program which was supposed to see non-stop flights from Sydney to London and Sydney to New York, would also be scrapped for now.
Qantas will sack 6000 employees, ground 100 planes for up to 12 months and raise $1.9 billion as part of a new three-year strategy to deal with the COVID-19 pandemic and the recovery from the crisis.https://t.co/P2TJJusU6P
— Ben Rickert (@Ben__Rickert) June 24, 2020
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