Australia's Qantas dives into red, scraps jet orders
- Published: 23 Aug 2012 at 06.48
- Online news: Asia
Australian carrier Qantas on Thursday posted its first annual loss since privatisation in 1995 and cancelled orders for 35 Boeing jets as high fuel costs and industrial action hammered its bottom line.
Australian carrier Qantas posted its first annual loss since privatisation in 1995 and cancelled orders for 35 Boeing jets as high fuel costs and industrial action hammered its bottom line.
The airline announced a net loss of Aus$244 million (US$256 million), a half-billion-dollar reverse from a net profit of Aus$250 million in the previous 12 months.
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