QAN qantas airways limited

News: QAN Qantas Says Pandemic Cost Co A$7 Bln In Losses

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    Nov 4 (Reuters) - Qantas Airways Ltd (QAN) :

    • PANDEMIC COST CO A$7 BILLION IN LOSSES AND MORE THAN A$25 BILLION IN REVENUE OVER TWO -AND-A- HALF YEARS
    • EXPECTS TO CONSIDER OPPORTUNITIES TO MAKE FURTHER DISTRIBUTIONS ACCORDING TO FINANCIAL FRAMEWORK
    • A$400 MILLION BUYBACK ANNOUNCED IN AUGUST IS NOW 59% COMPLETE
    • GROUP IS IN A FAR BETTER POSITION THAN JUST 12 MONTHS AGO
    • CLOSELY FOLLOWING CHANGES PROPOSED FOR AUSTRALIA'S INDUSTRIAL RELATIONS SYSTEM
    • CONCERNED PROPOSED CHANGES FOR AUSTRALIA'S INDUSTRIAL RELATIONS SYSTEM "EFFECTIVELY DISMANTLE ENTERPRISE BARGAINING SYSTEM"
    • CONCERNED "LOWERING BAR FOR COMPULSORY ARBITRATION & ENFORCING MULTI-EMPLOYER BARGAINING WOULD EFFECTIVELY LEAD TO CENTRALISED WAGE SETTING"
    • AROUND 85% OF WORKFORCE IS COVERED BY AGREEMENTS THAT ARE NEGOTIATED WITH UNIONS
    • INVESTING MORE THAN A$200 MLN THIS FINANCIAL YEAR ON OPERATIONAL RESILIENCE
    • "INDUSTRY IS STILL DISCOVERING BROKEN LINKS IN SUPPLY CHAIN THAT ARE NOW THREE OR FOUR LEVELS DEEP, AND WILL TAKE TIME TO FIX"
    • PREPARED FOR A POTENTIAL SPIKE IN SICK LEAVE IF THERE IS ANOTHER WAVE OF COVID, AS SEEN LAST SUMMER
    • WE'LL HAVE UP TO 20 AIRCRAFT ON GROUND OVER SUMMER PEAK TO HELP MINIMISE DELAYS
    • ONCE CONDITIONS NORMALISE, SEES NATURAL DOMESTIC MARKET SHARE POSITION OF AROUND 70%, UP FROM HIGH 60S CURRENTLY
 
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Last
$11.41
Change
-0.320(2.73%)
Mkt cap ! $17.26B
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$11.88 $11.92 $11.41 $49.00M 4.227M

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No. Vol. Price($)
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Price($) Vol. No.
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