Qantas may cut 5,000 jobs amid cost woes, says report
SYDNEY (AFP) - Struggling Australian carrier Qantas on Tuesday said it was committed to slashing costs by A$2 billion (S$2.3 billion) but refused to confirm or deny a report that it will axe 5,000 jobs.
The airline has been battling record fuel costs and fierce competition from subsidised rivals and in December said 1,000 jobs would go while warning it faced a half-year loss of up to A$300 million.
The interim result is due on Thursday and the Sydney Daily Telegraph, citing a Qantas source, said the job losses would be much worse as the airline restructures its finances to convince the government it deserves a debt guarantee.
As well as sacking 5,000 staff, the newspaper said Qantas may sell some of its terminals.