Qantas (ASX:QAN) to extend flight cancellations to July

Company News

by Rachael Jones

Qantas (ASX:QAN) is extended flight cancellations for June and July but could restore some services at relatively short notice as restrictions lift.

The extension means staff will remain stood down until at least the end of June, however they are being supported by the JobKeeper program in the meantime.

They also announced today they have secured a further $550 million in funding against three of its wholly-owned Boeing 787-9 aircraft.

This follows the $1.05 billion raised in March against seven 787-9s.

Net debt is now within the middle of the target range, at $5.8 billion.

Shares in Qantas (ASX:QAN) are trading 4.2 per cent higher at $3.71.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.