Qantas chief Alan Joyce says he's confident of turning the company's fortunes around.
Qantas chief Alan Joyce is sitting down with unions this morning to go over the finer details of his plan to axe 5,000 jobs.
He says more changes will be needed to turn the airline around but he is confident he can pull its finances out of a nosedive.
The focus now is on the one job at Qantas that, so far, is safe.
Well, I've been CEO of Jetstar and Qantas now for 10 years and during the vast majority of that, 9 out of the 10 years, we've made money.
The Qantas CEO will take a 36% pay cut but his strategy remains to convince the federal government to guarantee the airline's debt - something Tony Abbott has already ruled out.
What we do for one business, in fairness, we have to make available for all businesses.
Instead, the Prime Minister has raised the possibility of lifting the 49% foreign ownership cap on the airline - a move he says would level the playing field as major airlines buy more planes and routes to overtake Qantas.
At the last minute, they've pulled the rug from under Qantas, adding to the insecurity that is there from the workforce, 5,000 of whom found out yesterday that they would lose their job.
Unions want to save some of those jobs in their meeting with the airline boss this morning.
The unions are determined to secure as many jobs as we can and we don't simply accept an arbitrary figure of 5,000.
Three years ago, Alan Joyce grounded the entire Qantas fleet in a stand-off with unions.
He's now in a standoff with the parliament, which look set to defeat any plans to change the Qantas Sale Act.
There will be no amendments to the Qantas Sale Act that our senators will vote for.
I've discussed it with all of them - there'll be no amendments to the act and that'll be it.
Others are determined to keep the focus on the captain and his crew at the top of Qantas.
One of the world's great airlines, a national icon, has been brought to its knees because of the incompetence of Alan Joyce and his board.
We have the full backing of the board and shareholders to turn this business around.
The embattled CEO now has to convince union leaders he can navigate the airline through this storm.