According to media reports, Qantas Chief Executive Alan Joyce said the result was unacceptable and the company would slash 5,000 full-time equivalent positions.
"We have the only profitable carriers operating in the domestic operation today," he said.
"We haven't added as much capacity as our competitors have over the last few years, they're absolutely employing the position of adding capacity even though they are losing a significant amount of money and their strategy is loss-making," Joyce added.
Over the next three years, Qantas will be slashing 1,500 management and non-operational
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