Australian airline Qantas sheds 5,000 jobs after $235m loss

Qantas Airways says it will shed 5,000 jobs as it posted a first-half loss of AUD $235m (€153m) amid tougher competition, sending its shares down more than 7%.

The loss for the six months to December 2013 followed a AUD $111m (€72.5m) profit for the same period a year earlier. The loss excluding one-time factors was $252m.