Capital Raising, page-5

Joyce would be an idiot not to do a raising here. He will now be negative shareholder equity on the balance sheet and will continue to burn cash for at least another 9 months. The stock is pushing back to all time highs when you consider the shareholder dilution of the 2020 capital raise. Its all a bit ridiculous and so are investors who invest long-term in a company that buys shares at $6+ and then a year later sells them at $3+ because of a desperately weak balance sheet, that has only gotten worse despite all the crap lenders say about improved debt in Qantas - have you have known a creditor to talk up the risk of their lent assets.