Domestic capability additionally to be reduce in weak market
Domestic capability additionally to be reduce in weak market
Airline to freeze recruitment, use go away balances
Estimated virus earnings impression of A$100 mln to A$150 mln
Raises dividend, to purchase again A$150 mln of shares
Provides particulars of earnings hit, capability cuts, worker go away
SYDNEY, Feb 20 (Reuters) – Qantas Airways Ltd QAN.AX stated on Thursday it will reduce 15% of its capability to Asia till no less than the top of Might as a result of coronavirus outbreak after reporting flat half-year earnings in a weaker home aviation market.
The airline’s underlying pre-tax revenue, its most intently watched measure, was A$771 million ($514.87 million) within the six months ended Dec. 31, down 0.5% from A$775 million a 12 months earlier.
It estimated the coronavirus would end in a A$100 million to A$150 million hit to underlying earnings earlier than curiosity and tax for…