Qantas chief Alan Joyce denies his planned overhaul amounts to "offshoring"; likens decision to BHP Billiton digging a mine in Japan.

The embattled chief executive of Qantas has likened his drastic overhaul of the airline to BHP Billtion mining overseas of the ANZ opening banks in emerging Asia.

But Alan Joyce told me this morning that the strategy is not offshoring, even though a thousand local jobs will be cut and two new airlines will be established in Asia.

Mr Joyce also revealed the decision was not signed off by the Qantas board until just before yesterday morning's announcement and he maintains the deal can be done without changing the Qantas sale act.

Here's my interview with Alan Joyce from this morning's edition of AM.