Qantas secures $1 billion in new financing 

The Qantas Group has completed a new round of debt funding, securing $1.05 billion in additional liquidity to strengthen its position as it deals with the Covid 19 outbreak. This debt has been secured against part of the Group’s fleet of unencumbered aircraft, which were bought with cash in recent years. The loan has a tenure of up to 10 years at an interest rate of 2.75 per cent. This funding increases the group’s available cash balance to $2.95 billion with an additional $1 billion undrawn facility remaining available. Seven of the group’s 11 wholly-owned Boeing 787-9s have been securitised