Qantas (QAN) $4.68

QAN +3.54%: the national carrier found some support today, that comes despite announcing it would likely post a $2b statutory loss for FY21. The market was delighted with their $4b of available liquidity as at the end of April, expected to be more than enough as it continues to weather the lack of international travel. The company looks on track to reach underlying EBITDA of $400-450m if domestic boarders remain open for the last 6 weeks of the year. The $1b cost cutting program also remains on track to be achieved by FY23 with more than half of the target to be achieved this year. The travel agents were weaker today with Qantas announcing it would lower commissions on international tickets down to 1% from July 2022 – there doesn’t look to be many international tickets available before then anyways.

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Qantas (QAN)

LAST UPDATED 20/05/2021 17:02

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Qantas (QAN)

LAST UPDATED 20/05/2021 17:02