They've filed for Chapter 11 bankruptcy. I don't think you it could be less unequivocal. A rescue package for creditors standard in these circumstances.
But Qantas I agree, a capital raising a must. Joyce's full year guidelines already falling by the wayside. I am a little more optimistic than many above and would suggest the company is burning $30 million a week at present (its made substantial savings that should reduce the cash burn it was seeing in the first lockdown).
Its not going to be cash positive until at least 2023 and with rapidly rising US treasury yields and the markets still near all time highs, Joyce would be a fool not to raise here. He has few assets really left to sell. He'd repair the balance sheet termendously and see Qantas through to 2023 when some of his capacity forecasts more likely met.
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$6.34 |
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Mkt cap ! $10.33B |
Open | High | Low | Value | Volume |
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1 | 12466 | $6.34 |
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$6.35 | 19833 | 1 |
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No. | Vol. | Price($) |
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1 | 12466 | 6.340 |
2 | 5080 | 6.330 |
4 | 50175 | 6.320 |
2 | 25971 | 6.310 |
3 | 35246 | 6.300 |
Price($) | Vol. | No. |
---|---|---|
6.350 | 19833 | 1 |
6.360 | 51167 | 4 |
6.370 | 23906 | 5 |
6.380 | 20013 | 2 |
6.390 | 39966 | 3 |
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