Airline responds to "commercial challenges"
Qantas is to axe 90 senior management positions in an effort to restructure its finances, the troubled airline group announced today (March 25).
Australia's largest airline said it would maintain a salary freeze and make "a number of role changes for remaining managers."
Last month Qantas blamed a 66% fall in first half profits on high fuel costs, a decline in global travel and a weakened Australian dollar.
Qantas said the restructure would "ensure it is better equipped to respond to commercial challenges."
"It is clear that the aviation sector faces considerable commercial challenges for the foreseeable future," said Qantas' ceo Alan Joyce.
"Qantas must respond decisively to what is happening, and our response must begin with those of us who lead the company."
Mr Joyce said long term changes would move the group towards a leaner organisation with fewer management layers.
"Unfortunately, introducing a flatter, leaner structure means making some tough decisions about which managers will go and who will stay," he said.
"This means a number of managers will be leaving the company."
Qantas' profits after tax fell to A$210m (€105.9m) for the six months to December 31, down from A$618m (€311.5m) the previous year.
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