Chief Executive Officer of Qantas Alan Joyce has warned the Australian lawmakers that it must “adapt or die”. The airline wants to refocus routes away from Europe and concentrate in the Asia-Pacific region, including shifting maintenance to Southeast Asia and planning a new airline in Malaysia or Singapore. However, Qantas shareholders are not convinced the reorganisation can save the airline and shares have fallen 35% in the past 12 months on the back of industrial action, fuel costs and fierce competition from the Chinese and Middle East carriers.

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