Qantas has unveiled a three-year plan designed to accelerate a recovery from the Covid-19 outbreak.
Under the proposals, as many as 6,000 jobs will be lost, while the Australian flag-carrier will seek to raise to $1.9 billion in fresh liquidity.
Announcing the plan, Qantas chief executive, Alan Joyce, said: “The Qantas Group entered this crisis in a better position than most airlines and we have some of the best prospects for recovery, especially in the domestic market, but it will take years before international flying returns to what it was.
“We have to position ourselves for several years where revenue will be much lower.
“And that means becoming a smaller airline in the short term.”
Qantas said it expected around 8,000 of its 29,000 staff to have returned to work by the end of next month.
The carrier anticipates this will increase to around 15,000 by the end of the year, in line with the opening up of domestic flying.
The figure will increase further during 2021, as the international network returns, reaching 21,000 active employees by the middle of 2022.
Redundancies are proposed to manage a surplus of around 6,000 roles, with the temporary surplus of around 15,000 managed through a mix of stand down, annual…