Flying kangaroo lowers its wheels
Airlines feel a downturn faster than most businesses and for Qantas, 2009 has already been a very tough year. Passenger numbers fell 2.7 per cent across the Qantas group in March compared with 2008.
The carrier announced in April that as a result of what it described as a "rapid and significant deterioration of trading conditions", it was revising down its full-year profit forecast from about A$500 million to somewhere between $100 million and $200 million.