Australia's Qantas Airways announced a major overhaul to refocus its offshore operations on Asia, uneviling plans for a new Asian premium airline, a new Japan-based low-cost carrier, a fleet overhaul and up to 1,000 job cuts.
"Qantas International takes up enormous amounts of capital, and our cost base is around 20 percent higher than that of our key competitors. To do nothing, or tinker around the edges, is not an option," Chief Executive Alan Joyce said in statement Tuesday.
"Qantas International takes up enormous amounts of capital, and our cost base is around 20 percent higher than that of our key competitors. To do nothing, or tinker around the edges, is not an option," Chief Executive Alan Joyce said in statement Tuesday.