Sydney — Virgin Australia Holdings, the airline backed by China’s HNA Group, announced 750 job cuts and a wide-ranging operational review after reporting a seventh consecutive annual loss. The shares fell to a decade-low.

The job losses, which affect almost 8% of the airline’s total workforce, will shrink corporate and head office staff, Virgin Australia said on Wednesday. It plans to review its fleet and routes, and will cut some international and domestic flights. All contracts with suppliers are also being reassessed.

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