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Qantas 'needs to make big changes'

The management of Australian airline Qantas is set to meet unions as it moves to slash 1,000 jobs and cut costs in what it says is an increasingly competitive market.

The job reductions were announced this month as the airline issued a profit warning for the six months to December.

Shares in Qantas remain weak and its credit rating has been slashed to "junk" status, by ratings agency Standard & Poor's.

Ellis Taylor from Flightglobal explains some of its problems.

Go to next video: Qantas shares tumble to 18 month low