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Qantas cut business class seats

Qantas has signalled they may have to remove some business class seats from their flights, as profits drop amid the economic crisis.

In an interview with Bloomberg Television, Qantas chief executive officer, Alan Joyce said, “ideally in the current environment, we wouldn’t have as many premium seats as we have.”

The airline’s business class sales have plunged 30 percent, with many businesses cutting back on unnecessary expenses which include travel.

Saxon Nicholls, who manages more than $500 million at Herschel Asset Management Ltd. in Melbourne, including Qantas stock, said that in the current climate people have started flying economy as opposed to business.

“When you get a behavioural change like that you have to adapt.”

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