QANTAS today announced an Underlying PBT loss of $252 million and a Statutory Loss After Tax of $235 million for the six months ended 31 December 2013. This is a record deficit for the company in any six month period. The losses have been attributed as follows:

QANTAS Domestic profit reduced to A$57 Million.

QANTAS International loss increased to A$262 Million.

Jetstar posts a loss of A$16 Million.

The company has responded by embarking on a A$1 Billion capital expenditure reduction and A$1 Billion savings plan which will see the loss of up to 5,000 jobs.