Qantas plans to address today s profit plunge by reconfiguring 29 planes and cancelling first-class services altogether on some routes.
There will also be no first half dividend payout for QAN shareholders.
The airline posted a 72% drop in first-half earnings today, a result of a drop in premium travel demand and the GFC. Economic uncertainty and volatility in fuel prices and exchange rates continue to hurt profits.
The QAN share price has risen more than 10% in the last six months, but was down 7% in early trading today.
Qantas
ASX Code: QAN
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For more on this news story:
- Bloomberg: Qantas to Reconfigure Planes After First-Half Profit Drops 72%
- The Age: Qantas shares slump as profit plunges
