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Qantas Starts New Budget Airline

Qantas Airways Ltd. said Tuesday it plans to cut up to 1,000 jobs as part of a major shakeup of its international business that will include the launch of a new Asia-based airline. The flagship Australian carrier, which is struggling to offset losses from its international operations, will buy between 106 and 110 Airbus A320 aircraft, and retire older planes as part of the five-year plan.

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