Qantas passengers at airports around the world are scrambling to find accommodation or flights with other airlines. I'm at a loss," one traveller said. A Greens staff member, Tim Hollo, was on board a Qantas aircraft when the grounding happened. Qantas is urging passengers affected by the grounding of its flights over the next 24 hours to call 13 13 13 for assistance. We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work.
Both the international and domestic fleet have been grounded indefinitely. Have you been affected by the grounding? QantasLink and Jetstar will not be grounded. Government concerned The Federal Government was told about Qantas' plan for the first time this afternoon. Refunds, ticket transfers Mr Joyce said he was sorry the course of action had become necessary but the ball was now in the unions' court.
In total aircraft will be grounded in 22 airports around the world. Sorry, this video has expired. What is the Qantas dispute all about? More on:. Top Stories A former cop calls it 'the number one threat to society'. But it's a crime no-one talks about. Family stranded in Simpson Desert after campervan bogged on flooded roads. But disaster could strike come March.
Qantas has parked all 12 of its Airbus A superjumbos in the Californian desert until , which is how long it thinks it will take for international demand to recover to levels. Even when quarantine-free travel between countries is possible, international travel will be severely challenged in Pendal's Bensan says Qantas opening up international ticket sales, which are typically booked six months in advance, will help reverse the flow of working capital that gushed out of its coffers when it was hit by an avalanche of refund requests early in the pandemic.
This was a more important measure than profitability for the next two years, as it was key to it repairing its balance sheet.
Qantas' will also be contending with a very different domestic market than before the pandemic. Virgin has stripped its domestic fleet back from around 80 jets to just 56 Boeing s after it collapsed into administration in April as the pandemic hit, and has repositioned itself in the middle of the market. This may allow Qantas to become even more dominant in the lucrative corporate travel sector.
But Virgin says it is now a serious player in that market after an extensive restructure under the leadership of former Jetstar boss Jayne Hrdlicka and with the deep-pocketed backing of Bain Capital. Meanwhile, country airline Regional Express' bold move to launch jet services between Sydney and Melbourne in March, to be followed by other capital cities, is predicted to trigger a new airfare war between the three groups.
Joyce this week predicted only two of the three airlines would remain standing in the long term — and Qantas would be one of them. But some company watchers believe Rex's entry and a revived and restructured Virgin will cause serious headaches for Qantas.
Credit Suisse analyst Paul Butler thinks Bain will do a better job at running the perpetually loss making Virgin and will be able to take a bigger share of the domestic profit pool, while Rex's entry will chip away at Qantas' market share. With Qantas' balance sheet in its worst condition in five years and international travel being grounded for at least another six months, it was "perplexing" why Qantas' average annual market cap remained at an all-time high, Butler told clients in a note last month.
Qantas' market value is currently sitting at around ten times its book value, he said, which was an "extreme all-time high" compared to its 25 year average of 1. Joyce, already in the top job for 12 years, committed last year to sticking with the carrier until at least to steer it through its unprecedented crisis. For all his confidence, a smooth touchdown is far from guaranteed.
Grounded: Qantas stuck on the tarmac in pandemic recovery journey. Please try again later. The Sydney Morning Herald. Save Log in , register or subscribe to save articles for later.
Normal text size Larger text size Very large text size. As a cumulative effect, Qantas says it is letting go of 6, staff, with another 15, in a "stand-down" mode. Last week's announcement seemed inevitable in some ways. Australia's borders have been closed to most international travellers for now. Only Australian citizens, residents and immediate family members are permitted to travel to the country.
Even if there is some let up for students or business travellers, tourists are unlikely to be allowed till , the country's tourism minister has said.
But Qantas is bullish on the rise of domestic travel and sees that segment recovering quickest.
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