Qantas Downgrade

[TheInsider]

Qantas is just one notch away from losing its coveted investment-grade rating after Moody’s downgraded the airline's debt because of high fuel prices, strong competition and a difficult operating environment.
Moody’s today lowered its long-term rating of Qantas from Baa2 to Baa3, and its short-term rating for the company from P-2 to P-3. It said the outlook for Qantas was stable.
Baa3 is one notch above a non-investment grade rating or "junk status".
The downgrade was released after the stock market closed today. Qantas fell 2 cents to close at $1.575.
Qantas sought to reassure investors that its financial position remained strong despite the downgrade.

More here: Qantas hit by Moody's downgrade

 

[lovestotravel]

Was bound to happen sooner or later!

How are they financing the 110 x A320's again................. :shock: ?

What's happened to the "premium airline" in Asia ?

Qantas slowly but surely being run further and further into the ground!

Sad times

No 777 - Fail
Lack of investment in their cabins - Fail
AJ (well the board really) - Fail

 

[TheInsider]

No 777 - Fail
Lack of investment in their cabins - Fail
AJ (well the board really) - Fail

Sorry, that's sensitive information that only Qantas employees know of!

 

[lovestotravel]

Wasn't AJ so proudly promoting their "investment grade rating" only a few months ago ?

Yep!

That Asian plan will never work... Those A320's will end up flying in Australia with the orange cancer mark on the tail........

Qantas Asia plan under threat

Qantas is the only airline in the world with an investment grade rating, and Mr Joyce and chief financial officer Gareth Evans have repeatedly said the company would not do anything that would jeopardise that.

 

[yohy?!]

OT: Now RedRoo (QF), instead of sending PM's to former/current employees or people not related to the company (only know's people in the company) asking to cease posting on AFF, maybe it's time to engage with your staff and actually start to make a better company.

-1 Unlike!!

 

[simongr]

OT: Now RedRoo (QF), instead of sending PM's to former/current employees or people not related to the company (only know's people in the company) asking to cease posting on AFF, maybe it's time to engage with your staff and actually start to make a better company.

Umm what?

Qantas is the only airline in the world with an investment grade rating, and Mr Joyce and chief financial officer Gareth Evans have repeatedly said the company would not do anything that would jeopardise that.

What have they done to jeopardise the rating given that the rationale for the downgrade was the rise of fuel prices.

ANd just to ask on your other points:

777 - In hindsight taking the A380 over the 777 was not a great move given the delays to the A380 coupled with the global crash that happened just as the big birds actually started to be delivered.
Invest in cabins - Is the refit of the 744 J fleet not investment?
AJ/Board Fail - I don't like what happened to QF and I really don't like AJ - I don't think he has the vision need to reinvent QF and it is a great shame that QF lost Borghetti to DJ.

 

[TheInsider]

Qantas downgrade puts Joyce in firing line | Plane Talking

 

[simongr]

You really should warn people when you link to crikey.com - I wouldn't clicked through if I had known the quality of what was being linked.

 

[amaroo]

OT: Now RedRoo (QF), instead of sending PM's to former/current employees or people not related to the company (only know's people in the company) asking to cease posting on AFF, maybe it's time to engage with your staff and actually start to make a better company.

Maybe this should have been a PM!

 

[lovestotravel]

Invest in cabins - Is the refit of the 744 J fleet not investment?

This is only to partly offset the "deferring" of the A380's

767's are still flying around
734 are still flying around

 

[nlagalle]

This is only to partly offset the "deferring" of the A380's

767's are still flying around
734 are still flying around

767 still here thanks to 787 delays
734 are being retired, will be gone by the end of the year.

 

[simongr]

767 still here thanks to 787 delays
734 are being retired, will be gone by the end of the year.

Don't let those nasty facts get in the way of someone's opinion.

 

[Timba-Jet]

Qantas Asia plan under threat

The article states Qantas is likely to to re-commence flights to KL, and start shifting it's hub from SIN - how accurate do you think this is?

QF31/32 (soon to be QF01/02) going SYD-KUL-LHR...

 

[Noob]

767 still here thanks to 787 delays
734 are being retired, will be gone by the end of the year.

Off-topic, but being a bit of an aviation geek is it worth trying to book a flight on a 734 before they go?

 

[TheInsider]

The article states Qantas is likely to to re-commence flights to KL, and start shifting it's hub from SIN - how accurate do you think this is?

QF31/32 (soon to be QF01/02) going SYD-KUL-LHR...

Couldn't see the hub really moving out of SIN at all, this would be due to the amount of codeshares and other agreement QF has with other airlines.

 

[samh004]

Off-topic, but being a bit of an aviation geek is it worth trying to book a flight on a 734 before they go?

If you do, 1D/F are the seats with the handy cutout

 

[medhead]

Off-topic, but being a bit of an aviation geek is it worth trying to book a flight on a 734 before they go?

To be even more OffT. I'm slightly disappointed that I've missed TJF,G,M and R over the last couple of years. At least in my official log, I'm sure I've been on them before that.


Sent from the Throne (80% chance) using Aust Freq Fly app

 

[eastwest101]

767 still here thanks to 787 delays
734 are being retired, will be gone by the end of the year.

First batch of 787's going to JQ not QF as discussed over and over again....
We all take your point on 734's - fair enough - retirement and replacement by B738's

 

[markis10]

First batch of 787's going to JQ not QF as discussed over and over again....
We all take your point on 734's - fair enough - retirement and replacement by B738's

The 787s will free p the A330 fleet to go back to QF to replace the 767s, with news that QF will reduce capacity this morning I expect the 734 retirement to be accelerated, along with some 767s.

 

[UP4014]

I think Clifford and Joyce have to go.

If you're a hammer everything is a nail, if you're a LCC guy then everything needs cutting.

Matt