..a week or two ago, I indicated how Behind the Curve QAN share price has been in failing to react adversely to what was happening with the NSW lockdown. It took this news to cause its share price to dip more pronouncedly today, heading towards its major support at $4.39.
..but still IMO well way above where it ought to be based on historical precedent.
Qantas will stand down 2500 workers across its mainline and Jetstar brands for two months as it grapples with the continued lockdown in Sydney and COVID-19 spot fires in other states.
Qantas boss Alan Joyce says the airline was operating at less than 40pc of pre-pandemic capacity. Janie Barrett
The stand down will take effect in a fortnight and include domestic pilots, cabin crew and airport workers who Qantas chief executive Alan Joyce put on notice late last month.
Qantas will pay staff until mid-August and does not expect any job losses.
Mr Joyce said the action was necessary as the airline did not believe NSW’s borders would reopen before the end of October after the state recorded a 207 local coronavirus cases on Monday.
