Quote:
Originally Posted by Andrew
And as a worst case scenario, Qantas has some 16 billion in cash to draw-down from if it needs to.
|
Not sure about the $16billion cash. Qantas most recent annual report shows:
Debt steadily increasing, asset values unchanged, revenue trending down, profits significantly down two years running.
If I ran a company with such gloomy figures I'd be looking to change strategy too.
The details from Qantas' 2010 report:
Cash $3.7b
Debt $5.1b (up 40% in 2 years). But increased debt hasn't led to an increase in asset values (acft etc)..... asset values have remained at $19b for 5 years now
Revenue $14b (down two years running)
Profit $116m (down almost 90% in 2 years from $970m)
http://www.qantas.com.au/travel/airl...2010/global/en