I don’t think they can be saved. They were a basket case before...

I don’t think they can be saved. They were a basket case before Covid hit. Covid will finish them off. I can see how they could make money but they already have too much debt to make that a reality given interest payments, long term contracts on planes, airports, lounges, commercial space and ineffective IT systems. They also have enterprise agreements that would need to be renegotiated and potentially crewing arrangements. A lot of people will need to take a haircut to make this company work, and there is significant uncertainty about what post Covid travel will be like. I believe business travel will be less frequent with many organisations now using tools like Zoom and Teans.

This is a real shame as a country as big as Australia needs two airlines, so Qantas may need to be regulated. As for the Queensland government, not sure why any company would want to be in business with them. I feel for the employees though. Maybe Rex can scale up, or Air NZ could enter our market.