Virgin Australia slashes 750 jobs and plans flight cuts

Virgin Australia announced 750 job cuts and a wide-ranging operational review after reporting a seventh consecutive annual loss. The shares fell to a decade-low. The job losses, which affect almost 8% of the airline’s total workforce, will shrink corporate and head office staff, Virgin Australia said Wednesday. It plans to review its fleet and routes, and will cut some international and domestic flights. All contracts with suppliers are also being reassessed. The shakeup is new CE Paul Scurrah’s attempt to make the airline commercially viable. Virgin Australia has already pushed back delivery of its first Boeing 737 Max jet by almost 2 years. Scurrah’s mission is further complicated by a slowing domestic economy, rising fuel costs and a weaker Australian dollar. <br/>