Qantas has announced that it will repay $650 million in debt ahead of schedule and invest up to $100 million in an on-market share buy-back of up to around 4% of Qantas shares on issue1. The buy-back will begin in December 2012. Qantas Chairman Leigh Clifford said: “The Board believes the current Qantas share price does not reflect fair value of the Group, particularly considering the underlying strength of its domestic, loyalty and Jetstar businesses and the proposed partnership with Emirates. “Our continued progress towards the turnaround strategy for Qantas International, plus cash inflows from recent transactions, gives the Board

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