Resumption of international travel ‘pretty important’ for debt-ridden Qantas

Qantas’ decision to fast-track the resumption of international services is “pretty important” for an airline beset by $6 billion in net debt, according to Sky News Business Editor Ross Greenwood.

“It’s pretty important for Qantas to get back into the skies as quickly as it possibly can,” he said.

“Quite clearly, it’s had staff stood down since the beginning of the pandemic; it’s important for those people to get back to work to get off government subsidies as well.

“It’s also important for the shareholders of Qantas because Qantas has got just on $6 billion worth of net debt, and it’s important that it alleviates that debt by getting people into the skies and back into their seats flying.

“The final part about this … that people are booking international flights right now at a higher rate than what they’re booking domestic flights.

“Given the fact that now they’ll bring forward many of their international bookings and, indeed, will bring back into service earlier than expected the A380 flights that can then fly between Australia and Los Angeles, Australia and London also shows that they expect a very significant increase in capacity very, very shortly.”