DataRoom AM: Qantas tailspin

Qantas’ pleas for help fall on deaf ears, while Veda Group’s strong debut on the ASX puts to bed concerns of IPO fatigue.

If Qantas Airways was pinning its hopes on a government guarantee or cash injection it is likely to end sorely disappointed. Instead, the national carrier needs to assess other ways to dodge a credit rating downgrade and most likely that will mean asset sales. But the clock is ticking.

Elsewhere, the listing of Veda Group shows a healthy IPO market, Nine Entertainment gears up for its addition to ASX boards, Warrnambool Cheese and Butter awaits more details from suitor Murray Goulburn and Westfield Group makes a big US buy.

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