Qantas Airways
(ASX:QAN) budget subsidiary Jetstar is gearing up to employ more pilots and staff in Asia in an effort to get a competitive edge in the region.
Jetstar CEO Bruce Buchanan has told the Australian Financial Review that, “The market share of Australian carriers has been declining for years because of the growth of the Middle Eastern, Chinese and other carriers, and they're not doing it on Australian wages or contracts.”
On Friday Qantas announced it will raise ticket prices for domestic, trans-Tasman and regional services in response to rising fuel prices from 25 February. Fares will increase from $4 to $10 each way.
The news comes amid reports that the airline’s pilots are planning strike action over a pay dispute.
The Australian Associated Press has reported that Qantas CEO Alan Joyce last week told staff that if the pilots do strike, the job security of many thousands of Qantas group employees will be put at risk.
Mr Joyce allegedly also added that the strike will not only harm the brand but harm the business, and its 35,000 employees.
Qantas reported a net profit of $116 million in the year ended 30 June 2010.
