Poll: Is your MRO business having to cut its workforce due to the market impact of COVID-19?

Qantas Airways has unveiled a three-year strategy to prepare for a slow airline industry recovery, including cutting 6,000 workers, storing or retiring larger widebody airliners, and raising A$1.9 billion ($1.3 billion) in new equity to fund its plans.

Substantial job losses were widely expected as Qantas developed its blueprint to recover from the COVID-19 crisis. The 6,000 cuts—nearly 20% of its 29,000 workers—reflect the fact that the airline expects to be smaller than its pre-coronavirus size for the foreseeable future.

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“Despite the hard choices we’re making today, we’re fundamentally optimistic about the future,” Joyce said. “Almost two-thirds of our pre-crisis earnings came from the domestic market, which is likely to recover fastest—particularly as state borders prepare to open.” Joyce added the group plans to restore 40% of its pre-crisis domestic flying during July and “hopefully more in the months that follow.”

Read the full article - Qantas Plans Workforce Cuts, Lengthy Widebody Groundings

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