Qantas Airways Limited (ASX:QAN) says industrial action has cost $68 million to date.
The airline claims it is losing $15 million in revenue a week. The $68 million loss is far beyond analysts estimates of $20 million.
Chief executive Alan Joyce says industrial action by the three unions is expensive, but agreeing to their demands would have a far greater cost.
The total number of passengers impacted since August is just over 70,000. The statement was released shortly before the airline’s AGM started.
Qantas reported a net profit of $249 million for the 2011 financial year.
