Qantas Airways provides three year recovery plan update

20 August, 2020

Qantas Airways commenced (20-Aug-2020) its three year recovery plan, with the following key components of the plan either complete or in progress:

  • Approximately 4000 of at least 6000 redundancies are expected to be finalised by the end of Sep-2020;
  • Ongoing stand down of approximately 20,000 employees, enabling retention of core skills until work returns;
  • Early retirement of the Boeing 747 fleet and more than 100 aircraft in storage;
  • Raised AUD1.4 billion (USD1 billion) in equity in addition to the AUD1.75 billion (USD1.3 billion) of long term debt funding secured during H2FY2020. [more - original PR]