Mr Guscic said the cash being raised – above a minimum $275 million target – would be sufficient to last Webjet through to the end of calendar 2021.
Other smaller epidemics, such as SARS, have been marked by a V-shaped recovery, with a rush of travelling once the illness is contained. Mr Guscic believed the cash would also suffice if a rebound from coronavirus was slower.
“The amount of capital supports us in a U-shaped recovery,” he said.
Mr Guscic said Webjet would also register for the federal government’s new JobKeeper program, which gives staff $1500 a fortnight to be retained instead of sacked.
WEB Price at posting:
$2.78 Sentiment: None Disclosure: Not Held
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