(Bloomberg) -- Qantas Airways Ltd. cut almost a quarter of its international flights for six months, grounded most of its giant A380 aircraft and slashed management pay as the coronavirus outbreak hammers demand for travel.

The biggest reductions are in Asia, where the Australian airline’s capacity is now down 31% from a year earlier, Qantas said Tuesday. The carrier also cut services to the U.S. and the U.K., or put smaller planes onto existing routes. Eight of Qantas’s 12 Airbus A380 superjumbos will be grounded until mid-September.

The network overhaul, one of the most dramatic responses to the outbreak by any airline worldwide, was accompanied by wide-ranging cost cuts. Qantas’s group executive managers and board members will take a 30% pay cut for the rest of the financial year ending June. Chief Executive Officer Alan Joyce won’t be paid at all.

“In the past fortnight we’ve seen a sharp drop in bookings on our international network,” Joyce said in the statement. “We expect lower demand to continue for the next several months, so rather than taking a piecemeal approach we’re cutting capacity out to mid-September.”

Qantas shares have plummeted 42% this year.

The cuts announced Tuesday bring the total international capacity reduction at Qantas and its low-cost Jetstar business to 23% compared with a year earlier, the airline said. The carrier is asking all employees to take paid or unpaid leave amid the capacity cuts.

To contact the reporter on this story: Angus Whitley in Sydney at awhitley1@bloomberg.net

To contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Edward Johnson

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