Bloomberg.com, 15 Apr 2009, Chan Sue Ling
April 15 (Bloomberg) -- Qantas Airways Ltd., Australia’s largest carrier, will cut about five percent of its staff in anticipation of a record loss caused by a drop in business class travel. Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. may be next.
“All airlines in Asia will have to make similar tough decisions,” said Jim Eckes, managing director of industry adviser Indoswiss Aviation. “With traffic falling so rapidly, it’s going to be difficult for many airlines to make a profit.”
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