SYDNEY: Australia’s biggest airline Qantas said it would halt all international flights and suspend 20,000 staff in response to the coronavirus pandemic Wednesday, days after the island nation’s other main carrier Virgin shut its overseas routes.
Qantas said all of its international flights would be suspended by late March for at least two months after the government told citizens Wednesday to forego all overseas travel in a bid to halt the spread of novel coronavirus.
“The efforts to contain the spread of coronavirus have led to a huge drop in travel demand, the likes of which we have never seen before,” Qantas chief executive Alan Joyce said, adding that the airline would suspend 20,000 of its 30,000 staff during the shutdown.
The move also affected Qantas’ budget offshoot, Jetstar. A number of foreign airlines also service Australian routes.
Qantas announced earlier this week a 90 percent cut in overseas flights while Virgin Australia grounded its entire international fleet.
Qantas is maintaining 60 percent of its domestic flights and Virgin Australia 50 percent.
Airlines worldwide face an unprecedented existential threat as the coronavirus shuts down global travel, leaving governments with controversial and costly decisions about which carriers to bail out.
The Transport Workers’ Union said Qantas was making staff foot the bill for the crisis.
“This plan is designed to wipe the slate clean on all worker entitlements, including long-service leave and accrued benefits,” union secretary Michael Kaine said in a statement.
Australia has reported more than 600 confirmed cases of coronavirus, with infections increasing daily. There have been six deaths.
Officials say a large number of new cases involve people arriving from overseas or those who have been in contact with them.
On Wednesday, Prime Minister Scott Morrison announced an unprecedented decision to advise all Australians to forego foreign travel.
He has also ordered a halt to all cruise ship activity into and out of the country, banned outdoor gatherings of more than 500 people and indoor groups of more than 100.
But he stopped short of ordering the kind of lockdown seen in some pandemic hotspots or closing the nation’s schools.
Meanwhile, the island state of Tasmania announced Thursday than any non-essential travelers arriving in the island from Saturday would have to self-quarantine for 14 days.
The move, the first by any Australian state to restrict domestic travel, excludes health workers and essential personnel dealing with trade.
Tasmania, off Australia’s southern coast, has a population of around 500,000 and has reported just 10 cases of coronavirus.
Australian airline Qantas to cut all international flights
Australian airline Qantas to cut all international flights
- Qantas: All international flights would be suspended by late March for at least two months
- Australia has reported more than 600 confirmed cases of coronavirus, with infections increasing daily
Closing Bell: Saudi main index closes in red at 11,167
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 46.43 points, or 0.41 percent, to close at 11,167.54.
The total trading turnover of the benchmark index was SR4.88 billion ($1.30 billion), as 66 of the listed stocks advanced, while 192 retreated.
The MSCI Tadawul Index decreased, down 5.52 points, or 0.37 percent, to close at 1,506.55.
The Kingdom’s parallel market Nomu lost 153.40 points, or 0.65 percent, to close at 23,486.52. This comes as 32 of the listed stocks advanced, while 31 retreated.
The best-performing stock was Tourism Enterprise Co., with its share price surging 9.95 percent to SR14.36.
Other top performers included Mobile Telecommunication Co., Saudi Arabia, which saw its share price rise by 5.32 percent to SR11.48, and Al Masar Al Shamil Education Co., which saw a 4.86 percent increase to SR22.89.
On the downside, Almoosa Health Co. was the day’s weakest performer, with its share price falling 4.81 percent to SR150.40.
Dallah Healthcare Co. fell 3.81 percent to SR113.50, while Saudi Research and Media Group dropped 3.44 percent to SR100.90.
On the corporate front, Arabian Plastic Industrial Co. has signed a non-binding memorandum of understanding with K. K. Nag to explore the establishment of a specialized manufacturing facility for expanded polypropylene products.
According to a Tadawul statement, the agreement sets out initial mutual obligations and rights between the two parties as part of APICO’s broader expansion strategy to increase production capacity and meet rising industrial demand.
The company’s share price rose 1.21 percent to SR43.52 on the parallel market.
