Australian airline to slash 5,000 jobs

Australian airline Qantas plans to cut 5,000 jobs, a cost-saving measure after reporting a heavy financial loss.

The cuts were announced alongside an underlying pre-tax loss of A$252 million for the six months ended in December, according to BBC News.

The airline, which also plans to reduce its fleet by more than 50 aircraft, said it faced tough competition in both international and domestic operations.

Read more from BBC News.