Qantas Reports Big Loss as Restructuring Kicks In
Costs associated with layoffs and early fleet retirement account for much of the A$2.8 billion loss at Australian flagcarrier Qantas.
Qantas has achieved significant improvements in operating margins on both international and domestic routes. [Photo: Qantas]
Qantas has achieved significant improvements in operating margins on both international and domestic routes. [Photo: Qantas]

Announcing a record statutory after-tax loss of A$2.8 billion ($2.6 billion) on August 28, Qantas chief executive Alan Joyce said that the Australian flag carrier has “come through the worst” as it navigates an aggressive cost-cutting program announced in February 2014.