Qantas Airways Extends Flight Cancellations to End of July

May 05, 2020 12:32 PM AEST | By Team Kalkine Media

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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).

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