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Qantas planes clip wings in Los Angeles

Two Qantas planes collided while being towed out of a hanger in Los Angeles, the struggling carrier said Saturday, with the damage substantial enough to cause the cancellation of flights. The incident occurred on Thursday evening US time, the same day the airline announced it would slash 5,000 jobs after posting a Aus$235 million (US$210 million) loss in the six months to December 31.

Qantas planes clip wings in Los Angeles

Two Qantas planes collided while being towed out of a hanger in Los Angeles, the struggling carrier said Saturday, with the damage substantial enough to cause the cancellation of flights. The incident occurred on Thursday evening US time, the same day the airline announced it would slash 5,000 jobs after posting a Aus$235 million (US$210 million) loss in the six months to December 31.

IAG airlines group flies into profit

International Airlines Group soared back into net profit in 2013 on a strong performance from its British Airways unit and from recently-acquired Spanish budget carrier Vueling, it said Friday. Profits after tax stood at 122 million euros ($167 million) last year also as its main Spanish carrier Iberia narrowed losses, IAG said in a results statement. IAG had suffered a net loss of 716 million euros in 2012. Revenues grew 3.1 percent to 18.7 billion euros and fuel costs slid 2.5 percent to 5.95 billion euros.

Qantas unable to justify 5,000 job losses - unions

Union leaders Friday said Qantas boss Alan Joyce could not justify why he needs to cut 5,000 jobs during crisis talks as the carrier stepped up pressure on the government to help stem massive losses. After a posting a Aus$235 million (US$210 million) loss in the six months to December 31, Joyce met union heavyweights to detail his decision to axe the jobs and freeze wages following complaints of no consultation and threats of strike action. But Australian Council of Trade Unions secretary Dave Oliver said his explanation was not good enough.

Qantas chief says airline survival in national interest

Qantas chief Alan Joyce said Friday the Australian airline's survival was in the national interest as he held crisis talks with unions and stepped up pressure on the government to help stem massive losses. After a round of breakfast interviews in the wake of a Aus$235 million (US$210 million) loss in the six months to December 31, Joyce met with union heavyweights to explain his decision to axe 5,000 jobs and freeze wages. It follows complaints of no consultation and threats of strike action.

Asian shares broadly up, Qantas hit by huge net loss

Asian markets mostly rose on Thursday in cagey trade following a positive close on Wall Street and before the congressional testimony of US Federal Reserve head Janet Yellen later in the day. Australia's main index was hit by a slump in Qantas shares after the national carrier said it would slash 5,000 jobs under restructuring plans as it announced a half-year net loss of more than US$200 million.

Asian shares broadly up, Qantas dives on huge net loss

Asian markets mostly rose on Thursday in cagey trade following a positive close on Wall Street and ahead of the congressional testimony of US Federal Reserve head Janet Yellen later in the day. Australia's main index was hit by a slump in Qantas shares after the national carrier said it would slash 5,000 jobs under restructuring plans as it announced a half-year net loss of more than US$200 million. Tokyo was flat at the break and Sydney fell 0.40 percent, while Seoul was flat. Shanghai added 0.23 percent and Hong Kong was up 0.42 percent.

Qantas CEO says doesn't see short-term changes to Qantas Sale Act

SYDNEY (Reuters) - Qantas Airways Ltd <QAN.AX> chief executive Alan Joyce said on Thursday that he doesn't expect any short-term changes to legislation known as the Qantas Sale Act that sets restrictions on the Australian carrier's ownership. "In the short term, we don't see any changes that are likely to occur on that," Joyce said, speaking at a briefing after the airline reported a half-year loss and said it will cut 5,000 job cuts.

Australian carrier Qantas to axe 5,000 jobs

Struggling Australian carrier Qantas said Thursday it will axe 5,000 jobs in a major restructure, after posting a first-half net loss of Aus$235 million (US$210 million). "We are facing some of the toughest conditions Qantas has ever seen," chief executive Alan Joyce said in announcing the interim results. mp/bp/st

Australian carrier Qantas to axe 5,000 jobs

Struggling Australian carrier Qantas on Thursday said it will axe 5,000 jobs in a major restructure after posting a first-half net loss of Aus$235 million (US$210 million). The airline, battling record fuel costs and fierce competition from subsidised rivals, is working to slash costs by Aus$2 billion over three years. Part of the restructure will see 5,000 full-time positions lost from its 32,000-strong workforce.
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