Qantas Airways Limited (ASX:QAN) has shared its post COVID recovery plan and announced equity raising of up to $1.9 billion to accelerate recovery and position for new opportunities.
The immediate focus of the company is to:
- Rightsize the workforce, fleet and other costs as per demand projections with the potential to scale up as flying return.
- Restructure in a way to deliver ongoing cost savings and effectiveness across the Group’s operations in the changed market.
- Recapitalise via equity raising boost its financial resilience for recovery and the prospects it presents.
Later phases of the plan would emphasise on the growing ramp up of flying & engage in new opportunities, which includes ambition for more non-stop international flights.