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Financial impact of industrial action on Qantas hits AUD68 million

28-Oct-2011 11:23 AM

Qantas estimates (28-Oct-2011) the financial impact from the industrial campaign of ALAEA, AIPA and TWU has reached AUD68 million. The uncertainty caused to customers due to ongoing action costs Qantas AUD15 million per week in lost revenue.

Qantas: "This drawn out and coordinated industrial campaign by these three unions is now having a major impact on Qantas. AUD68 million is a significant impact on the company and the costs will continue to rise. In comparison, the impact on Qantas from grounding aircraft during the recent volcanic ash cloud was AUD49 million. Agreeing to the union’s unreasonable demands would have a far greater cost on the company including risking the future of Qantas," Alan Joyce, CEO. Source: Company statement. [more - original PR]