After more than $1 billion was wiped off its value last week, Qantas Airways Limited’s (ASX:QAN) chief Alan Joyce rejected the suggestion that the airline will resort to selling off more assets or commence a capital raising to keep its investment-grade rating.
At an industry gathering in Beijing at the weekend, Mr Joyce said the airline will avoid “over-reacting to the situation and making wrong decisions.”
The airline will continue with its strategy of focusing on its struggling international arm.
Australia’s biggest airline forecast last week that its underlying profit will fall up to 90 per c ent in the 2012 financial year.
In the first half of the 2012 financial year, Qantas reported a net profit of $42 million.
