{"id":98799,"date":"2020-08-20T14:26:29","date_gmt":"2020-08-20T14:26:29","guid":{"rendered":"https:\/?p=98799"},"modified":"2020-08-20T14:26:31","modified_gmt":"2020-08-20T14:26:31","slug":"qantas-announces-annual-loss-of-1-9-billion","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2020\/08\/qantas-announces-annual-loss-of-1-9-billion.html","title":{"rendered":"Qantas announces annual loss of $1.9 billion."},"content":{"rendered":"\n<p>Australian airline Qantas announced on Thursday an 82% drop in revenue due to the coronavirus pandemic and announced an annual loss of $1.9 billion.<\/p>\n\n\n\n<p>Qantas recorded a &#8220;solid first half&#8221; followed by the &#8220;near-total collapse of flight demand&#8221; in the second half.<\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-6613542170464175\"\n     data-ad-slot=\"7885240672\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<p>&#8220;The covid-19 has left a AUD4 billion hole in our revenue and a AUD1.2 billion hole in our corresponding profit, despite the fact that there would have been a very solid new result,&#8221; said the company&#8217;s chief executive officer, Alan Joyce.<\/p>\n\n\n\n<p>The epidemic will continue to have a &#8220;huge impact&#8221; on the company, with a &#8220;significant loss&#8221; expected in the coming year, he added.<\/p>\n\n\n\n<p>Qantas has cut 6,000 jobs and grounded 100 aircraft for a period that could last a year as part of a $10 billion cost-cutting operation.<\/p>\n\n\n\n<p>The company has stated that it does not plan to resume international flights before mid-March 2021.<\/p>\n\n\n\n<p>Its main competitor in Australia, Virgin Australia, announced in April that it was voluntarily declaring a suspension of payments following the closure of international borders and the collapse of domestic flights.<\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\n<!-- ultimo -->\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-6613542170464175\"\n     data-ad-slot=\"6526913898\"\n     data-ad-format=\"auto\"\n     data-full-width-responsive=\"true\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<p>Virgin Australia announced in early August that it was closing one of its low-cost subsidiaries, Tigerair Australia, and cutting 3,000 jobs. The US private equity firm Bain Capital&#8217;s offer to acquire Virgin Australia, accepted at the end of June, is due for approval in August.<\/p>\n\n\n\n<p>By <a href=\"https:\/\/www.afp.com\/es\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">AFP<\/a> &#8211; <a href=\"https:\/\/www.eleconomista.com.mx\/empresas\/Qantas-anuncia-perdida-anual-de-1900-millones-de-dolares-20200820-0022.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">El Economista<\/a><\/p>\n\n\n\n<amp-auto-ads type=\"adsense\"\n        data-ad-client=\"ca-pub-6613542170464175\">\n<\/amp-auto-ads>\n","protected":false},"excerpt":{"rendered":"Australian airline Qantas announced on Thursday an 82% drop in revenue due to the coronavirus pandemic and 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