March 18, 2020 / 10:03 PM / 15 days ago

BRIEF-Qantas Airways To Defer Payment Of $201 Mln Dividend Until Sept

March 19 (Reuters) - Qantas Airways Ltd:

* PAYMENT OF $201 MILLION SHAREHOLDER DIVIDEND DEFERRED UNTIL SEPTEMBER 2020

* 60 PER CENT REDUCTION TO DOMESTIC FLIGHTS, FOCUSED ON CUTTING FREQUENCY

* QANTAS AND JETSTAR TO SUSPEND SCHEDULED INTERNATIONAL FLIGHTS FROM LATE MARCH

* TWO-THIRDS OF EMPLOYEES TO BE TEMPORARILY STOOD DOWN TO PRESERVE AS MANY JOBS AS POSSIBLE LONGER TERM

* CO AND JETSTAR WILL STAND DOWN MAJORITY OF THEIR 30,000 EMPLOYEES UNTIL AT LEAST END OF MAY 2020

* SENIOR GROUP MANAGEMENT EXECS AND BOARD INCREASED THEIR SALARY REDUCTIONS FROM 30% TO 100% UNTIL AT LEAST END OF FY

* ANNUAL MANAGEMENT BONUSES HAVE BEEN CANCELLED

* SCHEDULED INTERNATIONAL FLIGHTS TO CONTINUE UNTIL LATE MARCH FOR REPATRIATION & WILL THEN BE SUSPENDED UNTIL AT LEAST END OF MAY 2020

* JETSTAR PACIFIC (VIETNAM) SUSPENDED INTERNATIONAL FLIGHTS & WILL SIGNIFICANTLY CUT DOMESTIC FLYING

* JETSTAR JAPAN SUSPENDED INTERNATIONAL FLIGHTS AND CUT DOMESTIC FLYING

* ONGOING DISCUSSIONS WITH FEDERAL GOVERNMENT ABOUT CONTINUATION OF SOME STRATEGIC LINKS

* JETSTAR ASIA (SINGAPORE) WILL SUSPEND ALL FLIGHTS FROM 23 MARCH TO AT LEAST 15 APRIL 2020

* SOME DOMESTIC PASSENGER AIRCRAFT WILL ALSO BE USED FOR FREIGHT-ONLY FLIGHTS

* NO IMPACT ON QANTAS LOYALTY’S OPERATIONS AS A RESULT OF THIS ANNOUNCEMENT

* TALKING TO PARTNERS LIKE WOOLWORTHS ABOUT TEMPORARY JOB OPPORTUNITIES FOR OUR PEOPLE Source text here Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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