Qantas Airways Limited
(ASX:QAN) says Moody’s ratings agency has upgraded its outlook from stable to positive.
The airline has reduced debt and cut costs and Moody’s says the change in outlook recognises the progress of the company’s transformation program.
Also mentioned was the company’s more conservative approach to capacity management in the domestic market and the benefits of a weakening Aussie dollar and lower fuel prices.
Moody’s Vice President Matthew Moore says the company is on track to achieve its targeted $1 billion of debt reduction with an improved EBITDA expected for FY15.
Qantas reported a net profit of $206 million for the first half of the 2015 financial year.
