Qantas is set to cancel nearly all its international flights until March 2021 as pandemic batters air travel

Qantas is testing a Boeing 787-9 to fly between New York and Sydney nonstop for the primary time.

Source: Qantas

Qantas has eliminated the stock for nearly all of its international flights until March of 2021, as the coronavirus pandemic continues to batter air travel.

The Australian flagship provider will solely preserve just a few flights to New Zealand, travel web site Executive Traveller wrote this week, that are presently grounded until mid-August of this yr.

Removing stock implies that the routes in query are not bookable, and usually precedes full cancellation, Conde Nast Traveler wrote on Monday. Previously booked flights haven’t been cancelled, however no new bookings could be made. 

Qantas didn’t reply to request from CNBC for remark at time of publishing.  

As pandemic lockdowns set in world wide and international locations closed their borders to vacationers, Qantas in March introduced the suspension of all international flights until October, a date that now seems to be as although it has been prolonged to a full yr. Alan Joyce, Qantas Airways CEO, instructed Australian media in June that he would not see a considerable restart in airline providers until a minimum of July of subsequent yr. 

The airline announced in June that it was retiring its six Boeing 747 planes instantly, six months earlier than initially deliberate, and slashing 20% of its employees. It’s additionally grounded its fleet of double decker Airbus A380s — wide-body jets used for lengthy haul travel — for the following three years, Conde Nast wrote. 

The airline’s inventory worth has fallen simply over 50% yr to date, buying and selling at $3.49 a share at 10 a.m. ET on Tuesday, down 0.57% from the day prior to this. 

No airline has been spared the devastating results of the coronavirus pandemic and its ensuing government-mandated lockdowns. The International Air Transport Association (IATA) forecast final month that airways have been on monitor to lose $84 billion this yr, and one other $15 billion in 2021.  

In April, air travel fell greater than 90% from the earlier yr, in accordance to IATA, in what it expects to be the worst yr within the business’s historical past. 

Australia is seen as having introduced the virus largely beneath management by strict lockdown measures and border closures. It has additionally applied a ban on its residents touring abroad and a 14-day quarantine for these returning to the nation, measures that are nonetheless in place. 

“We have to position ourselves for several years when revenue will be much lower,” Qantas’ Joyce stated in a press release in June that outlined a three-year roadmap to restructure the airline. “And this means becoming a much smaller airline in the short term.”

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