Qantas

Australia's Qantas posts huge loss

Australian carrier, Qantas, has posted its first annual loss since privatisation in 1995 and cancelled orders for 35 Boeing jets as high fuel costs and industrial action hammered its bottom line. The airline announced a net loss of $256m (244 million Australian dollar), a half-billion-dollar reverse from a net profit of AU$250m in the previous 12 months. Andrew Thomas reports from Sydney.