Qantas reports reduced annual profit and more job cuts.
Qantas Airways Ltd has reported a decrease of 30% in its annual profit.
The airline said the decline was due to higher fuel and redundancy costs. Fuel costs increased by 45% to a total of AUD2.8bn, according to Reuters.
Qantas reported that its net profit for the year ended 30 June 2006 fell to AUD479.5m from AUD688.5m for the same period a year earlier.
Separately, Qantas said that it plans to cut more jobs, including more than 1,000 management and support jobs.
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|Comment:||Qantas reports reduced annual profit and more job cuts.|
|Publication:||Airline Industry Information|
|Date:||Aug 17, 2006|
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