Qantas to reactivate plans for Sydney-London flights when financial strength returns By Reuters

Qantas to reactivate plans for Sydney-London flights when financial strength


© Reuters. FILE PHOTO: A Qantas plane takes off from Kingsford Smith International Airport in Sydney

SYDNEY (Reuters) – Qantas Airways Ltd (AX:) will reactivate plans to order airplanes capable of the world’s longest non-stop commercial flights from Sydney to London when the airline returns to financial strength, its chief executive said on Friday.

“I think the business case for doing it is very strong,” Qantas CEO Alan Joyce said on a tourism industry webcast.

“The aircraft are not going anywhere,” he added. “When we are comfortable in doing it and have the financial strength to do it, we will be doing it.”

Before the coronavirus pandemic, the airline had planned this year to order up to 12 Airbus SE (PA:) A350-1000 planes to allow Sydney-London and Sydney-New York flights by 2023.

The airline has since grounded 220 planes and halted all international flying with the exception of government repatriation charters and cargo flights.

Qantas on Thursday said it would triple domestic capacity to 15% of normal levels by the end of the month, with the potential to rise to 40% of normal in July if state border restrictions ease.

Joyce said the outlook for international travel was less clear and would depend on countries’ getting COVID-19 under control or a vaccine being developed.

Australia, which has few COVID-19 cases, has barred its citizens from almost all outbound travel.

Joyce said that was likely to boost demand for holidays in domestic destinations like Cairns and Broome, and that Qantas would offer low fares to help stimulate demand and reduce the A$40 million ($27.76 million) monthly cash burn from planes sitting on the ground.

($1 = 1.4407 Australian dollars)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME