Wonder what AJ sees the international and domestic network and frequency to look like after these jobs are gone.
Leftfield thought - are the travel industry, including airline etc, that are so badly affected by Coronavirus doing anything to support the development of a vaccine? $1.9bn could go a long way towards such research and would probably provide better returns than just lifting up one operator for a short term period. Not suggesting it should be only QF that does this but putting the values into perspective.
but this sort of raising tends to dilute the small retail 'mums and dads' shareholders and has attracted criticism when other companies have done this. A minority of companies have been fairer, giving retail holders the opportunity of a non-renounceable entitlement issue.
All depends on what the scale back is under the SPP, and what your shareholding is.
Eg. If you had a $1000 shareholding you could get up to $30000 under SPP .
To some extent retail shareholders get a better deal as they get a free option for a short period
Anyone else hear AJ say no International flights until July 2021?
"We'll be parking the A380s for at least three years," Qantas Group CEO Alan Joyce confirmed to media during a press teleconference following the announcement of a sweeping three-year 'post-Covid recovery plan'.
With Qantas forecasting its international network to reach only 50% of its pre-pandemic capacity in the 2021-2022 financial year, Joyce said the A380s "don’t have any use during this period of time."
Joyce said he doesn't expect the Qantas' international network to restart "in any real size from July next year", with those flights led by the smaller Boeing 787 and Airbus A330 jets "to establish the network as fast as possible."