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Qantas' credit rating cut to junk
Topic Started: 6 Dec 2013, 05:13 PM (1,931 Views)
herbie
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"Airline Qantas' credit rating has been reduced to junk status in the wake of Thursday's announcement of mass job losses and an expected first half loss of up $300 million.

Ratings agency Standard and Poor's has lowered its credit and debt rating for Qantas to BB+, which is considered below investment grade.

That will cut the company's shares off from institutional investors that don't buy junk-rated stocks and also increase its borrowing and general finance costs.

The airline on Thursday announced it would cut 1,000 jobs as increased competition led by Virgin Australia hurts Qantas.

S&P has placed Qantas on negative watch while fellow ratings agency Moody's has put its Baa3 credit rating for Qantas on review for downgrade."

etc ...

http://www.businessspectator.com.au/news/2013/12/6/aviation/qantas-credit-rating-cut-junk?utm_source=exact&utm_medium=email&utm_content=540343&utm_campaign=pm&modapt=
Edited by herbie, 6 Dec 2013, 05:15 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Perthite
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I can't see how they can let them go under.
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Pig Iron
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Bogan scum

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6 Dec 2013, 05:48 PM
I can't see how they can let them go under.
why not? i'm sure branson would be happy to buy them up for cents on the dollar.
I am the love child of Tony Abbott and Pauline Hanson
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Perthite
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Pig Iron
6 Dec 2013, 10:20 PM
why not? i'm sure branson would be happy to buy them up for cents on the dollar.
I'm pretty sure that as a nation we need them.
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newjez
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Pig Iron
6 Dec 2013, 10:20 PM
why not? i'm sure branson would be happy to buy them up for cents on the dollar.
More likely emirates - they know how to run an airline.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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goldbug
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6 Dec 2013, 05:48 PM
I can't see how they can let them go under.
That's what a friend of mine said about Ansett, though he had a vested interest, a pocket full of frequent flyer points lol. Who does the most flying? Middle and upper management, fifo, tourists? It's an inevitable flow on of the economic collapse happening here but I didn't see it coming either.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Pig Iron
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Bogan scum

Perthite
6 Dec 2013, 10:22 PM
I'm pretty sure that as a nation we need them.
pfft.

that's like saying we NEED holden to build cars.
I am the love child of Tony Abbott and Pauline Hanson
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Perthite
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Pig Iron
7 Dec 2013, 11:31 AM
pfft.

that's like saying we NEED holden to build cars.
Holden essentially is not Australian. Qantas is.

Say aussie citizens needed to be rescued overseas. A war type situation.
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Pig Iron
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Bogan scum

Perthite
7 Dec 2013, 11:41 AM
Holden essentially is not Australian. Qantas is.

Say aussie citizens needed to be rescued overseas. A war type situation.
you'd fly qantas into a war situation, not the air force?
I am the love child of Tony Abbott and Pauline Hanson
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Perthite
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Pig Iron
7 Dec 2013, 11:56 AM
you'd fly qantas into a war situation, not the air force?
Yes if they where in the area first.
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