Qantas reports first loss since 1995, cancels orders for 35 planes

Thu, 23 Aug 2012

Aug. 23 (BusinessDesk) - Qantas Airways, Australia’s biggest airline, is cutting orders for 35 Boeing 787-9 aircraft for a saving of US$8.5 billion as it announces its first trading loss since being privatised in 1995. The airline reported a statutory loss of A$244 million for the year ended June 30, a half billion dollar turnaround on the profit of A$249 million a year earlier, Qantas said in a statement to the ASX. The loss came despite a 5.6 percent lift in total group revenues to A$15.72 billion and reflects what the company described as...

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