SIA's 1st half profits soared to S$169 million whereas Qantas lost S$340 million in the same period. S&P has downgraded Qantas credit ratings to "junk" status. Qantas has announced a 1,000 job cuts. It has sought financial help from the Australian government but PM Abbott has told Qantas management to "get its house in order". "If we subsidise Qantas, why not subsidise everyone?"
"And if we subsidise everyone, that's just a bottomless pit into which we will descend."...Mr. Abbott was quoted as saying by the Australian Broadcasting Corporation.