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Update news Qantas
The airline says the collapse in billions of dollars of travel revenue means it has "little choice".
The warning comes as concerns grow over the impact of the outbreak on airlines and the global economy.
Australia's national carrier Qantas has reported a return to full-year profit and says it plans to buy new planes.
Struggling airline Qantas has announced plans to cut 5,000 jobs, after reporting a heavy financial loss.
Emirates president Tim Clark said he is carefully watching developments at alliance partner Qantas, but ruled out throwing a financial lifeline to the embattled Australian flag carrier, in comments reported on Monday.