Aug 3 (Reuters) - Qantas Airways Ltd (QAN) : STANDS DOWN 2,500...

Aug 3 (Reuters) - Qantas Airways Ltd (QAN) :

• STANDS DOWN 2,500 CREW IN RESPONSE TO ONGOING DOMESTIC BORDER CLOSURES
• STAND DOWN IS A TEMPORARY MEASURE TO DEAL WITH A SIGNIFICANT DROP IN FLYING CAUSED BY COVID RESTRICTIONS
• DECISION WILL DIRECTLY IMPACT DOMESTIC PILOTS, CABIN CREW & AIRPORT WORKERS, MOSTLY IN NEW SOUTH WALES BUT ALSO IN OTHER STATES
• EMPLOYEES WILL BE GIVEN TWO WEEKS' NOTICE BEFORE STAND DOWN TAKES EFFECT
• REASONABLE TO ASSUME SYDNEY'S BORDERS WILL BE CLOSED FOR AT LEAST ANOTHER TWO MONTHS
• WELCOMES TARGETED FEDERAL GOVERNMENT SUPPORT OFFERED FOR THOSE STOOD DOWN OUTSIDE OF DECLARED HOTSPOTS AND TO RETAIN DOMESTIC AVIATION CAPABILITY
• QANTAS AND JETSTAR HAVE GONE FROM OPERATING ALMOST 100 PER CENT OF THEIR USUAL DOMESTIC FLYING IN MAY TO LESS THAN 40 PER CENT IN JULY
• ONCE OTHER STATES OPEN BACK UP TO SOUTH AUSTRALIA & VICTORIA IN NEXT WEEK, DOMESTIC FLYING TO COME BACK TO AROUND 50 -60 % OF NORMAL LEVELS
• "CHALLENGE AROUND OPENING INTERNATIONAL BORDERS REMAINS"
• AROUND 2,500 FRONTLINE QANTAS AND JETSTAR EMPLOYEES WILL BE STOOD DOWN FOR AN ESTIMATED TWO MONTHS