Qantas secures USD627.6m in additional liquidity

Qantas secured (25-Mar-2020) AUD1.05 billion (USD627.6 million) in additional liquidity to strengthen its position as it manages through the coronavirus outbreak, increasing the Group's available cash balance to AUD2.95 billion (USD1.8 billion) with an additional AUD1 billion (USD597.8 million) undrawn facility available. Seven of the Group's 11 wholly owned Boeing 787-9s have been securitised against this funding. The loan has a tenure of up to 10 years at an interest rate of 2.75%. With a further AUD3.5 billion (USD2.1 billion) in unencumbered assets, the Qantas Group retains flexibility to increase its cash balance in the current climate. [more - original PR]