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12-May-2015 10:57 AM

Qantas Group says 'unique opportunity' may be available to take advantage of new aircraft

Qantas Group CFO Tino La Spina, speaking at the carrier's 2015 investor day, said (12-May-2015) there is “a unique opportunity that may come up in the next decade to take advantage of the next generation of aircraft.” Mr La Spina reiterated the group’s position that the balance sheet needs to be “back in order,” deliver more than 10% ROIC and there needs to be a business case for the acquisition of any new aircraft. Mr La Spina noted the group is on track to achieve the financial metrics. Qantas Group CEO Alan Joyce added: “Replacement for the [Boeing] 747s, that fits into the maintenance capex, its not above and beyond that… Now we’re over the hump of big capex.” Mr Joyce added: “The expectation is the group will generate significant get free cash flow moving forward the optimal capital structure at the end of FY2015.” According to the CAPA Fleet Database, Qantas has options for 50 787-9 aircraft with the first delivery slot available in 2017. As previously reported by CAPA, Qantas Group CEO Alan Joyce said the carrier is edging closer to firming up its Boeing 787-9 order with progress continuing in meeting the preconditions. [more - original PR]

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