Qantas Grounding 100 Aircraft, Retiring 747s | Aviation International News

Qantas Grounding 100 Aircraft, Retiring 747s

Facing dramatic reductions in air travel, Qantas has unveiled a $10 billion recovery plan.

Qantas is retiring its six remaining Boeing 747 widebodies early as part of a three-year plan to cut costs by just over $10 billion. [Photo: Qantas]

By Charles Alcock • Managing Editor

June 25, 2020

Qantas has unveiled a three-year recovery plan through which it aims to cut costs by A$15 billion ($10.4 billion) by a mix of measures including 6,000 job cuts and the grounding of around 100 aircraft for at least 12 months. In a June 25 statement, the company also said it will seek to raise around $1.3 billion through a new equity issue.

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