Spending cuts delay plane deliveries at Qantas
2012-05-06
Qantas has suspended purchase of A380n aircraft due to rising costs and a fall in passenger demand.
Australian airline executives have revealed they will delay the delivery of two A380 planes by almost four years and will also run a new round of spending cuts.
Qantas has been streamlining its operations in a catch-up move after demand on international routes dropped substantially.
Qantas announced cuts of AUD$500 million in February and has committed to a further reduction in its capital expenditure by a further AUD$400 million.
Profits from the Australian airline fell 83% in the the six months to December.
Qantas has 65% share of the Australian market.
source: Airlines Industry News.Net
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