Qantas to slash jobs, cut costs as first-half profit slumps
World BusinessFeb 16, 2012
SYDNEY (AFP) ― Embattled Australian carrier Qantas said Thursday it will slash at least 500 jobs, cut costs and close two routes after posting an 83 percent slump in first half net profits.The airline’s result in the six months to December came in at Aus$42 million ($44.8 million), compared to Aus$241 million in the previous corresponding period, due to high fuel costs and the grounding of its fleet in October.Chief executive Alan Joyce pulled all the airline’s planes out of the skies for 48 hou