Qantas Airways says it plans to cut up to 1,000 jobs as part of a major restructure of its international business.
The flagship Australian carrier is struggling to offset losses from its international unit.
The airline said today it will buy between 106 and 110 Airbus A320 aircraft, and retire older planes as part of the five-year restructure plan. Qantas says the changes are expected to affect around 1,000 jobs.
Qantas also said it will invest in a new premium airline in Asia that will operate under a different name and launch the budget carrier Jetstar Japan in partnership with Japan Airlines.
Qantas shares were up 4.25 percent to AU$1.59 in early morning trading.
AP