Qantas Airways Limited
(ASX:QAN) is flagging an underlying loss before tax of up to $300 million in the six months ending December 31 and will axe up to 1000 jobs.
The airline says there has been a marked deterioration in trading conditions in November, with passenger loads and yields below the already negative trends for the year to date.
The group is also flagging a capital expenditure and structural review in response to fundamentally changed market conditions.
Qantas says its outlook for the second half of fiscal 2014 remains volatile, with CEO Alan Joyce saying the circumstances demand urgent action.
Qantas generated a net profit of $6 million in fiscal 2013.
