Qantas slashing capacity in response to fuel costs, disasters. Fares under pressure in key markets

Qantas has announced a range of measures, including a significant recalibration of its capacity growth plans for 2011, as a response to high jet fuel prices a series of natural disasters in Japan, New Zealand and Australia. In a statement reminiscent of the dark days of the global financial crisis, Qantas announced reductions in domestic and international capacity, retirement of aircraft, reduction of management positions and ongoing fuel surcharges.