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Australian Flag Carrier Posts Record Losses

Australia's national airline Qantas has posted full-year losses of $2.6 billion - its biggest ever annual loss. The development is likely to hasten efforts to allow foreign investment in the troubled carrier. One of the world’s most recognizable airlines has a proud history going back almost 100 years. But Qantas is in deep trouble. Soaring fuel costs and fierce competition have resulted in mass redundancies and huge financial losses. Results for this financial year - losses...

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