FED:Qantas Asia push to support jobs: Joyce

AAP General News (Australia)
08-17-2011
FED:Qantas Asia push to support jobs: Joyce

CANBERRA, Aug 17 AAP - Qantas boss Alan Joyce insists an Asian expansion will help
support the airline's 35,000 jobs in Australia.

The airline has announced a five-year plan to create a new premium service in Asia
and other restructuring that will cost up to 1000 jobs.

"This is about participating in Asia, which is a high growth region and creating local
airlines," Mr Joyce told ABC Radio on Wednesday.

It was like resources giant BHP-Billiton building a mine in Japan and bringing back
profits to Australia.

"We are setting up a Japanese domestic airline with a great brand we've developed in
Jetstar in conjunction with (Japanese airline) JAL airways," Mr Joyce said.

"We'll be able to take 43 per cent of the profits of that business back here to Australia
to support the 35,000 jobs we have."

Mr Joyce said the company's other operations were subsidising the losses made from
its international business, which is losing $200 million a year due to the high Australian
dollar and the rising fuel prices.

He said if Qantas didn't change, it could follow other airlines, such as Ansett, PanAm
and TWA, into failure.

"We don't want Qantas to be next that's why we need to change and why need to adapt
to where the environment is today ," he told the Nine Network.

Qantas has forecast a pre-tax profit of $500 million for the 2010/11 financial year.

The company was profitable overall because of its budget airline Jetstar, its frequent
flyer program, freight business and domestic operations, Mr Joyce said.

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KEYWORD: QANTAS

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