News: QAN Qantas Airways Sees Domestic Capacity At 68% Of Pre-Covid Levels For Dec

Dec 3 (Reuters) - Qantas Airways Ltd (QAN) :

• QANTAS GROUP MARKET UPDATE
• GROUP DOMESTIC CAPACITY AT 68 PER CENT OF PRE-COVID LEVELS FOR DECEMBER,
• RESTRUCTURING AND RECOVERY PROGRAM REMAINS ON TRACK TO DELIVER AT LEAST $1 BILLION IN ANNUAL SAVINGS FROM FY23
• AS AT 30 NOVEMBER 2020, GROUP HAD $3.6 BILLION IN AVAILABLE LIQUIDITY
• EXPECTS TO BE CLOSE TO BREAK EVEN AT UNDERLYING EBITDA LEVEL FOR FIRST HALF
• EXPECTS TO BE CLOSE TO BREAK EVEN AT UNDERLYING EBITDA LEVEL FOR H1 AND NET FREE CASH FLOW POSITIVE IN H2
• NUMBER OF FULL TIME EQUIVALENT ROLES STOOD UP EXPECTED TO INCREASE TO AROUND 14,000 IN QUARTER THREE
• EXPECTS ITS CURRENT DOMESTIC MARKET SHARE OF ABOVE 70 PER CENT TO BE MAINTAINED
• CURRENTLY, APPROXIMATELY 13,500 ROLES REMAIN STOOD DOWN
• FACING A REVENUE DROP OF AT LEAST $11 BILLION THIS FINANCIAL YEAR ALONE COMPARED TO PRE- COVID
• FURTHER 24 FLIGHTS, COMPRISING OF 787 DREAMLINERS, EXPECTED TO ENTER SERVICE IN DEC AND JAN
• NET DEBT HAS RISEN TO $5.9 BILLION AS AT 30 NOV FROM $4.7 BILLION AT 30 JUNE

Source: https://bit.ly/36uKKVj

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