Qantas says it will be reducing capacity by almost a quarter for the next six months due to fears over COVID-19.
ABC News reports eight of the airline's A380s will be grounded and two are already undergoing scheduled maintenance which leaves only two in service.
Qantas services to London will also be re-routed, flying via Perth instead of Singapore.
In a statement, the airline said the latest cuts follow the spread of the coronavirus into Europe and North America over the past fortnight, as well as its continued spread through Asia.
Qantas said the biggest reductions would be made to Asian routes, where travel demand is down 30 per cent compared to the same period last year.
Services to the US, UK and New Zealand will also decrease.
Jetstar will make significant cuts to its international network by suspending flights to Bangkok and reducing flights to Vietnam and Japan by almost half.
Both Qantas and Jetstar's domestic service reductions will be increased from 3 per cent to 5 per cent.
Qantas CEO Alan Joyce said the past fortnight had seen a "sharp drop" in international bookings and warned there may be a need to make further cuts as the situation develops.
In addition to the service cuts, the Qantas chairman will take no fees and the Group CEO will take no salary for the remainder of the financial year.
The board will take a 30 per cent reduction in fees as will the executive management, and annual management bonuses have been set to zero.
Joyce said Qantas wanted to avoid job losses and asked staff to take paid leave where possible or consider unpaid leave as shifts diminish.
Qantas and Jetstar will waive change fees for new international bookings made from today until the end of March.
Almost 100 Australians have now tested positive for coronavirus, around half of them in NSW.
