Qantas Airways Apprises Post-COVID Recovery Plan and Equity Raising Plan

June 25, 2020 01:30 PM AEST
Team Kalkine

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.

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