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Qantas Group shares came perilously close to dropping below $2 on the day the airline announced it was suspending two-thirds of its staff.
Scott Morrison announced all non-residents and citizens will be banned from entering Australia on Friday.
The Qantas Group this morning announced it would suspend two-thirds of its 30,000 staff and cancel all international flights from late March.
In a drastic move, Qantas group has announced extensive changes to its network including the cancelling of international flight due to the ongoing effects of the COVID-19 outbreak. The changes include revised mainland and regional networks and suspended routes and both Qantas and Jetstar scheduling.
Qantas chief executive Alan Joyce has said he's been talking to Woolworths about transferring "stood down" employees to Woolworths.
Virgin Australia shares remained steady despite the airline earlier announcing it was to cut all international flights and cut domestic capacity by 50 per cent.
