Qantas announces its biggest ever financial loss
Australia's national flag carrier Qantas has reported an after-tax net loss of A$2.8bn ($2.6bn; £1.57bn) for the year ending in June - its biggest ever financial loss.
The huge loss confirms fears that it is continuing to struggle in a highly competitive environment.
The flag-carrier issued a profit warning last year and the company has called on the government to modify rules on foreign ownership to allow it to seek new investment.
Phil Mercer reports from Sydney.
28 Aug 2014
- From the section Business