Hong Kong (CNN Business) Australian carrier Qantas Airways announced Thursday that it's "unlikely" to resume international flights before July 2021, as it suffers heavy losses due to the coronavirus pandemic. The airline reported a 2.7 billion Australian dollars ($1.9 billion) loss for the financial year that ended in June, and a 91% drop in profit from the prior year. The company said it saw a revenue drop of 4 billion Australian dollars ($2.9 billion) in the second half of the financial year due to the "Covid-19 crisis and associated border restrictions." "We've had to make some very tough decisions in the past few months to guarantee our future. At least 6,000 of our people will leave the business through no fault of their own, and thousands more will be stood down for a long time," Joyce said.

Source: CNN August 20, 2020 03:33 UTC