Qantas will delay the delivery of two A380 planes by almost four years amid fresh spending cuts in a bid to streamline its operations.
The airline said it would reduce its capital expenditure by a further $A400 million this year.
Qantas previously announced cuts of $A500 million in February. Its profits fell 83% in the the six months to December amid rising costs and a slowdown in international routes.
The two planes, which were due early next year, will now be delivered in 2016 or 2017.
The BBC reports Qantas has been shifting its focus on increasing its share of the domestic market in a bid to offset the decline in its international operations.
The airline, which has 65% share of the market, announced plans to further boost that.
It will increase the number of flights during peak hours on routes between Sydney, Melbourne and Brisbane.
It will also increase the capacity of Jetstar on certain routes.