Australian airline Qantas to cut 5,000 jobs after posting €165m loss

Australian airline Qantas has announced a pre-tax loss of 165 million euros for the second half of 2013 and is to cut 5,000 jobs.

It is also seeking to get rid of some 50 aircraft, either through sales or deferring orders for new planes. These include three Boeing Dreamliners, and eight Airbus A380s.

Over the next three years Qantas wants to strip 1.3 billion euros from its costs as it tries to persuade the Australian government to offer aid, and reassure shareholders.

Qantas faces fierce competition from Virgin Australia in its home market.