Australia’s Qantas airline to cut 6,000 jobs as virus hits

23 Sept 03:08 Key points summarised by AI

Qantas announced plans to cut at least 6,000 jobs and keep 15,000 more workers on extended furloughs, severely impacted by the coronavirus pandemic.
The airline will implement a massive AU$15 billion cost reduction strategy over three years and raise AU$1.9 billion in new equity to accelerate its recovery.
Operational changes include grounding 100 planes for over a year and immediately retiring its entire fleet of six Boeing 747 aircraft.
CEO Alan Joyce stated the airline must become smaller, anticipating several years of significantly lower revenues, while maintaining long-term optimism for its future.
Job losses will affect a broad spectrum of roles across the company, including corporate, ground operations, cabin crew, engineering, and pilots.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.