Comment: Qantas is creating an army of zombie pilots | EKnightOfficial
Qantas has offered its 3000 excess pilots a smorgasbord of options including redundancies and early retirement as it scrambles to deal with a setback in the resumption of domestic flights and the likely extended duration of the hiatus in international flying.
. Qantas has now written to its pilots offering options ranging from early retirement to leave without pay, special leave without pay or voluntary redundancy. Those that don’t tick any of those boxes will remain in stand-down mode.However, in recognition that it could be more than a year before long haul international flying resumes, the voluntary redundancy package is on offer only to those pilots.
The pilot package will serve to quarantine the airline from the ongoing employee costs after Jobkeeper assistance runs out - an event which although scheduled for September may be extended for the hardest-hit sectors such as aviation and hospitality. Investors are now coming to the realisation that airlines will probably be facing extended periods of limited operations. It also cements the view that Qantas was wise to tap the equity market for $1.9 billion a few weeks ago.
Two businesses that are being closely watched are Australia’s premium department store chains, David Jones and Myer.
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