Qantas, Australia’s largest airline, today announced a $252 million half-year loss and said it will “take actions unprecedented in scope and depth to strengthen the core business”.

These include $2 billion in cost cuts over three years, including the elimination of 5000 full-time jobs, selling or deferring 50 aircraft and a network scheduling overhaul.

The only profitable part of its business was domestic and loyalty. See Qantas Strategy Update.

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