May 4, 2020 / 11:09 PM / a month ago

Qantas Airways extends flight cancellations, raises A$550 mln

May 5 (Reuters) - Qantas Airways on Tuesday said it would extend flight cancellations into June and July, and added that it secured further debt funding that should support the airline through to the end of 2021 if the coronavirus crisis prolongs.

The airline said it had secured A$550 million ($352.99 million) in funding against three of its wholly-owned Boeing 787-9 aircraft, taking the company’s net debt to within the middle of its target range at A$5.8 billion.

“The Group has sufficient liquidity to respond to a range of recovery scenarios, including one where the current trading conditions persist until at least December 2021”, the carrier said in its statement.

$1 = 1.5581 Australian dollars Reporting by Shruti Sonal in Bengaluru; Editing by Christian Schmollinger

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