This is an interesting watch.
https://www.bnnbloomberg.ca/company-news/video/qantas-airways-ceo-on-jet-fuel-travel-demand-industry-outlook~2389531
Joyce indicates higher levels of hedging than is mentioned here.
I assume the hedging requires them to use the fuel they have hedged which may explain the continued high capacity.
It also allows them to load up on their fixed costs and continue to fly "cash flow positive".
Joyce also plays down the significance of China whilst also again making some very bold future capacity predictions.
He seems to constantly refer to other airlines when commenting on the health of Qantas.
Like the Joyce, it seems the market assumes there will be plenty of other airlines going broke before Qantas does.
This is an interesting...
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