Qantas Airways Extends Flight Cancellations to End of July

May 05, 2020 12:32 PM AEST
Team Kalkine

Qantas Airways Limited (ASX:QAN) provided a market update and disclosed that the Company secured nearly $550 million in debt funding as the airline extended flight cancellations through to the end of July.

But Qantas stated that some capacity could be added back within a week if domestic and trans-Tasman restrictions are eased earlier.

With its domestic and international routes ruined due to COVID-19, the Company is forecasting a net cash burn rate of $40 million per week to the end of June 2020.

The shares of QAN rose by 3.37% to $3.68 on 5 May 2020 (at AEST 12:18 PM).

Disclaimer

The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.