Australian carrier Qantas has said ongoing industrial disputes are costing AU $15 million (£10 million) in lost revenues each week.

Bosses for the troubled flag carrier also told reporters that bookings had been substantially hit because of strikes, particularly over the vital Christmas travel period, which leaves the airline without the ability to announce a profit outlook. The company’s statement said that volatile conditions were likely to persist in the remainder of the early 2012 due to high fuel prices and significant losses through its international operations.

Meanwhile, the airline’s management continues to deal with intensifying pressure from the Transport Workers Union (TWU) and the Australian Licensed Aircraft Engineers Association (ALAEA), which seek job security and pay increases amid the carrier’s cost cutting and restructuring plans.

Figures show that more than 70,000 passengers have seen been affected so far by some 600 cancelled flights due to strikes. Similarly, the Australian Associated Press issued a report that Friday alone saw in excess of 10,000 passengers delayed when employees took action during the Qantas annual shareholders’ meeting.

Chief executive of Qantas, Alan Joyce, said that the current wave of industrial action has cost the company some AU $68 million (£45 million) since September, whereas the Chilean volcano ordeal from the early part of the year had totalled to AU $49 million (£32.5 million).