Qantas cuts almost a quarter of all flights

Qantas, the Australian flag carrier, has announced that it will be cutting almost a quarter of its flights in response to the ongoing COVID-19 pandemic and the resulting decline in demand for air travel.

According to reports, Qantas will be reducing its domestic and international flight schedules by around 23% from March to October, with the majority of the cuts affecting domestic routes. The airline will also be reducing its capacity by around 15% on its international routes.

The cuts are expected to affect around 150 flights per week, with the airline citing a significant decline in demand for air travel due to the pandemic as the reason for the reductions. Qantas has also announced that it will be grounding several of its aircraft, including some of its Boeing 747s and Airbus A380s, as part of the cost-cutting measures.

The airline has also announced that it will be offering its employees voluntary redundancy packages and reducing its workforce by around 2,500 jobs. The airline has also announced that it will be reducing its executive salaries and freezing its executive bonuses for the next two years.

Qantas has been heavily impacted by the COVID-19 pandemic, with the airline reporting a significant decline in revenue and profitability in recent months. The airline has been working to reduce its costs and preserve its cash reserves, and the latest cuts are part of its efforts to do so.

It's worth noting that Qantas is not the only airline to be cutting flights and reducing capacity in response to the pandemic. Many other airlines around the world have also been forced to take similar measures in order to stay afloat and preserve their businesses.