Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Grounded: Qantas may return to stand-downs

Published

on

Qantas may have to stand down airline staff due to lockdowns happening across Australia

Flight cancellation data released on Wednesday showed more than 9000 flights were cancelled in July, majority of them were flights with Qantas and Jetstar.

Qantas CEO Alan Joyce sent an email to staff detailing the effects of the current lockdown hitting Sydney and Melboure.

Joyce said their total flying had dropped below 40 per cent of pre-Covid capacity and an extension to the lockdowns could be problematic for the group.

In the email written to staff he said the company isn’t at the point of requiring stand-downs in domestic operations at this stage.

“But to be honest, we can’t rule it out if multiple states keep their borders closed for extended periods.”

“Hopefully this scenario doesn’t come to pass. But we’ve always been upfront through this crisis and it’s important for you to know the challenges we’re facing,” said Mr Joyce.

Australia’s largest cities in lockdown so thousands of flights grounded

“NSW is a key part of the Qantas and Jetstar network, so that lockdown has already seen our total domestic flying fall from 90 per cent of pre-COVID levels to around 60 per cent,” he wrote.

“When you add in the Victorian and now South Australian lockdowns, our total flying drops below 40 per cent.”

Qantas wants the government to chip in

He said if that happened he expected the government would provide a basic level of income support.. yet another call out for the JobKeeper payment to return.

Mr Joyce reassured workers that this situation will only be temporary, because “unlike last winter there’s now a Covid vaccine rolling out”.

The message came as rival Rex announced the temporary suspension of its Boeing 737 operations.

At the height of the Covid crisis last year, Qantas had more than 20,000 employees stood down.

About 7500 people who usually work in the airline’s international business remain stood down.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

U.S. markets mixed as tech slumps and Fed moves spark uncertainty

Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.

Published

on

Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.


US equity markets posted mixed results as technology stocks fell, reflecting growing concerns about AI disruptions. The delay of key labour data has added to market uncertainty, especially with President Trump’s recent appointment of Kevin Warsh as Fed Chair.

Steve Gopalan from SkandaFX joins us to discuss how these shifts could influence monetary policy, corporate FX strategies, and the broader financial landscape.

We also dive into FX trends, euro-area inflation signals, and Australian dollar movements, exploring what these developments mean for investors worldwide.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#USMarkets #TechStocks #FedPolicy #FXTrading #AIImpact #LabourMarket #CurrencyTrends #InvestingInsights


Download the Ticker app

Continue Reading

Money

Tech stocks and Bitcoin tumble amid market uncertainty and rising job concerns

Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.

Published

on

Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.


Wall Street took a sharp hit Thursday as technology stocks and Bitcoin plunged, reigniting worries over the job market and global economic stability. Kyle Rodda from Capital.com breaks down how Alphabet and Qualcomm’s earnings may signal broader tech weakness.

Bitcoin’s recent drop also rattled crypto markets, with Coinbase shares falling sharply. Rodda explains how much of the decline is driven by market fundamentals versus shifting investor sentiment, and how rising AI expenditures are affecting investor confidence in tech.

The surge in unemployment claims, coupled with falling bond yields, is prompting concern over overall market stability.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#WallStreetCrash #TechStocks #BitcoinDrop #MarketVolatility #JobMarket #InvestingTips #CryptoNews #Ticker


Download the Ticker app

Continue Reading

Money

S&P 500 dips as tech stocks struggle with AMD leading losses

S&P 500 declines as tech stocks sell off; AMD plummets, Microsoft stable, investors eye Alphabet’s upcoming earnings report.

Published

on

S&P 500 declines as tech stocks sell off; AMD plummets, Microsoft stable, investors eye Alphabet’s upcoming earnings report.

The S&P 500 fell as technology stocks faced intense selling pressure, dragging the broader market lower. AMD shares were particularly hard hit, falling 17% after its first-quarter forecast disappointed analysts.

Software names including Oracle and CrowdStrike also struggled, although Microsoft found some stability amid the sell-off.

Investors are now focused on Alphabet, which is set to report earnings after the bell Wednesday.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker


Download the Ticker app

Continue Reading

Trending Now