Will QAN survive?, page-1459

Will Qantas survive?

Yes, but not without a capital raising and whilst the mercenary Leprechaun has managed to shed himself of yet more worker compensations, commitments and expenses, it should do so soon whilst the share price is high.

$2.7 and $2.3 billion losses before tax in 2020 and 2021. Net cash out-flows of -$488 million and -$1,108 million offset by the under subsrcibed capital raise of 2020 that nets out at $1,672 million across the two years with financing outflows in 2021.

Debt has risen from $4.734 billion in 2020 to $5.890 in 2021....hmmm

Lets have a look at the balance sheet. $17.88 billion in assets and $17.36 billion in liabilities....hmmmm, just $513 million in shareholder equity.

I often wondered how Joyce stayed in a job after systematically sacking more Australian workers than any other existing CEO, but then in stark contrast in 2019 executed a very generous buyback (eroding balance sheet strength) that of course saw his share price based awards rocket, only then to sell out shares in the company a year later in a massively undersubscribed raising $3 lower a year later - hmmmm pretty poor fidicuiary management there.

Even more remarkeable is that this company on the terrible state of its balance sheet and cash flows (weakened in part by Joyce) is valued near $10 billion. Utterly remarkeable. Is the CFO Irish too?