Qantas has disclosed in a statement that it expects to post a loss of up to A$300 million ($271 million for the three months to December 2013. Unexpectedly shares in Qantas dropped by 15% on the news, which was accompanied with an announcement for 1,000 job cuts. Qantas blamed a “marked deterioration” due to tougher competition and slowing demand. Chief executive Alan Joyce also blamed record fuel costs and a strong Australian dollar for the stress on profits. He acknowledged that the situation warranted urgent action and stated that the airline was dedicated to acting to secure its future. Qantas

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