Struggling airline Qantas has announced plans to cut 5,000 jobs, after reporting a heavy financial loss.
It is part of the Australian carrier’s plans to cut costs by A$2bn ($1.8bn; £1bn) over the next three years.
The cuts were announced alongside an underlying pre-tax loss of A$252m for the six months to the end of December.
The airline, which also plans to cut its fleet by more than 50 aircraft, said it faced tough competition in both international and domestic operations.
Qantas chief executive Alan Joyce said he will be discussing the job cuts with the unions on Friday.
In addition to redundancies, the airline will also be making changes to its fleet.
At a press conference following the earnings results, Mr. Joyce said Qantas will defer eight remaining Airbus A380 aircraft on order.
And it will also defer the receipt of three Boeing’s 787 Dreamliner jets which had been ordered for its budget arm Jetstar.
In a statement, Qantas chief executive Alan Joyce said the airline was facing “some of the toughest conditions…it has ever seen” and that it needed to take actions “unprecedented in scope and depth” to cope with changes in the Australian aviation industry.