Qantas face massive fines for allegedly selling tickets for cancelled flights; Australia Post reveals $200 full year loss as letters decline worsens

Competition regulator ACCC is taking Qantas to the Federal Court alleging the airline advertised tickets for more than 8,000 flights that it had already cancelled but had not removed from sale. 

The watchdog alleges deceptive, false and misleading conduct. 

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The theoretical fines (maximum $10 million x 8,000) on paper could equate to $80,000 - off the scale and would never be enforced.

Also Australia Post reveals a $200 million full year loss as the letters decline worsens and community service obligation costs weigh. 

Australia Post chief executive Paul Graham speaks with ABC's Peter Ryan.