The airline reported a loss of 2.7 billion Australian dollars ($ 1.9 billion) for the fiscal year ending June, and a 91% drop in profit from the previous year.
The company said it had lost $ 4 billion ($ 2.9 billion) in revenue in the second half of the fiscal year due to the “Covid-19 crisis and associated border restrictions.”
Alan Joyce, CEO of Qantas Group, said in a statement that the second half of fiscal year 2020 was the “most expensive set of circumstances the national carrier had faced in its 100 years”, but added that the company had the “resilience to deal with them. ”
“We have had to make some very difficult decisions in recent months to secure our future. At least 6,000 of our people will leave the company without their own fault, and thousands more will stand for a long time,” Joyce said. “Recovery will take time and it will be choppy.”
.
