Business Services Industry
Qantas cuts profit again, flags job losses.
Australasian Business Intelligence, May, 2003
May 07, 2003 (The Sydney Morning Herald - ABIX via COMTEX)
Australia's Qantas Airways issued a profit warning on 7 May 2003, its second in six weeks. Due to the severe acute respiratory syndrome (SARS) crisis, Qantas said passenger bookings across all its routes have declined by around 20 on average. However, bookings on its routes to Hong Kong have dropped by 64, to Japan by 30, to the UK by 14, and to some European cities by as much as 45. Domestic flights have also suffered. Qantas did not provide any specific numbers on the impact of the SARS crisis on its revenues. Nor did it say how many jobs will be lost. However, this did not stop analysts from slashing their 2002-03 profit forecasts for Qantas by as much as 25. Qantas shares fell by $A0.16 to close at...
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