Qantas will offer hundreds of its international crew voluntary redundancies and introduce a two-year wage freeze on the next round of enterprise agreements, with two per cent annual increases locked in annually after that, as the airline revealed a $16 billion hole in its bottom line due to the pandemic.
Qantas is forecasting a statutory loss before tax of more than $2 billion this financial year alone.
The redundancy program will run an “expression of interest program” for international cabin crew and is expected to generate “several hundred applications”.
Qantas Group CEO Alan Joyce said there is “a long way still to go in this recovery”.
“But it does feel like we’re slowly starting to turn the corner,” he said.
“It’s great to see so many of our people now back at work and the majority of our fleet back in the air.
“Our recovery strategy of targeting cash-positive flying rather than pre-COVID margins is helping increase activity levels and repair our balance sheet.”
On the other hand, Virgin Australia announced 250 new jobs for its domestic network, after adding more than 700 extra weekly flights by October.
“We are so pleased to have turned a corner from the worst of the pandemic and to soon welcome 250 new and highly skilled individuals into the Virgin Australia team,” Hrdlicka said Virgin Australia Group CEO Jayne Hrdlicka.