Qantas Group expects substantial statutory FY2021 loss

Qantas announced (03-Dec-2020) it expects its balance sheet to commence repairing in H2FY2021, as the impact of domestic borders reopening, progress on cost reduction programmes and the continued strong performance of Loyalty and Freight divisions help it move in to recovery mode. Qantas Group expects to post a substantial statutory loss for FY2021, and expects to be close to break even at the Underlying EBITDA level for the H1FY2020, and net free cash flow positive, excluding redundancies, in the H2FY2020. This assumes no material domestic border closures and no material international travel until at least the end of Jun-2021 beyond an increase in trans Tasman services to New Zealand, dependent on vaccination rollouts. [more - original PR]