As apart of a plan to restructure and return to profitability, the AP reports that Qantas Airways has announced that it will launch a new airline that will focus primarily on the Asian market. As apart of the announcement, Qantas also said it will order new Airbus planes while postponing deliveries of others and will also layoff over 1,000 workers in Australia.
The flagship Australian carrier, which is struggling to offset losses from its international operations, will buy between 106 and 110 Airbus A320 aircraft, and retire older planes as part of the five-year plan. It will also defer the delivery of six Airbus A380 superjumbo planes for up to six years.
The changes are expected to affect around 1,000 jobs, Qantas said.
The airline has forecast a loss of Australian dollars 200 million ($210 million) for the 2011 financial year, and CEO Alan Joyce said the changes were needed to ensure the airline’s profitability.