Flying Low, Down Under

Qantas to slash 1,000 jobs, start new Asia airline - Yahoo! Finance: "Qantas Airways Ltd. said Tuesday it plans to cut up to 1,000 jobs as part of a major shakeup of its international business that will include the launch of a new Asia-based airline.

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."