Covid could lift Qantas profit
Qantas is on track to eventually come through COVID-19 as a more profitable airline, says Macquarie Research.
Qantas is on track to eventually come through COVID-19 as a more profitable airline, says Macquarie Research.
Qantas shares have borne the brunt of investor anxiety a day after the airline unveiled its brutal COVID-19 recovery plan.
Virgin’s bondholders now have an incentive to create some mayhem. Alan Joyce is more than willing to help.
Aviation industry watchers say at least two groups are likely to follow in Qantas’s footsteps with fresh capital raisings.
The question for Virgin’s 9000 staff is not if jobs will be lost, but how many will be shed in the inevitable restructuring.
Qantas had big dreams, but now it needs to cut a mind-boggling $15bn in the next three years and $1bn every year after that.
Qantas will slash 20 per cent of its workforce, or a total of 6000 jobs, with international flights not expected to resume for 12 months.
Qantas has told pilots it views compulsory redundancies as ‘failure’, but concedes some jobs may have to go.
When Qantas flight attendant Pablo Grover heard Sydney’s MCA needed volunteers to enable it to reopen, he leapt at the chance.
Australians are keen to get back in the air, judging by the response to Qantas and Jetstar’s fare and points sale.
Carriers including Qantas, Virgin Australia and Air New Zealand now offer only bottled water on domestic flights.
After weeks of speculation, the Qantas Group confirmed discussions with Jetstar Pacific partner Vietnam Airlines.
New airline data shows international carriers are regularly flying to Australia with as few as 20 passengers.
Qantas is preparing to ramp up domestic services to 850 return flights a week by the end of July.
Virgin Australia is ramping up its domestic flights to match Qantas despite ongoing uncertainty over its financial position.
Investment bank Jefferies has forecast major cost cutting at Qantas to help return the airline to profit in 2021.
Australian airlines will temporarily disappear from international airways with the final government-subsidised flights.
Qantas’s plans to lift capacity have revived ailing travel names, while retail profit taking kept the ASX from finishing above 6000.
As rival Virgin battles its way through administration, Qantas has announced plans to pull planes out of mothballs and get more services up and running.
The ACCC has toughened its position on Qantas’ acquisition of a stake in smaller airline Alliance.
Original URL: https://www.theaustralian.com.au/topics/qantas/page/94