Isn't the ~8% interest payment excessive, considering it's a...

Isn't the ~8% interest payment excessive, considering it's a short-term facility?

As most its revenue would be wiped out, it would easily use both facilities (total $900m). Total payments of 8% is $72m. Even worse, it'll increase to 9% interest in the 2nd year, which is $81m.

Reasonably adding these 2 years of interest payments ($153m) + from existing loans (>$65m), it would wipe out most of the 2nd year's full profit (assuming $258m as in FY2019). And that's being generous with operational conditions (passenger no,, etc) getting back to the historic high of 2019.

QAN has an even higher debt/equity (89% vs 74%) b4 the COVID-19 pandemic. A good possibility is airlines seeking better loans elsewhere, but possible?

Thanks for discussing.