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Qantas woes

: Dec 10, 2013 - : 2:11 am

Following a Moody’s downgrade, Qantas could cut hundreds of jobs and could lose up to AUD $300 million in H2 2014, following what it calls “market deterioration in trading conditions and weaker return on fares.”

Gareth Evans, Qantas CFO, said: “A downgrade was not unexpected following yesterday’s market update. It highlights the unprecedented pressures that the Qantas Group is facing from several external forces but particularly from an uneven playing field in the Australian aviation market.” Reports indicate it may consider a partial sale of Jetstar Australia, Jetstar Asia, and Jetstar Japan.

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