Qantas buys some breathing space

Qantas has moved to extend the maturity of a large portion of its debt, which will provide much needed flexibility during the critical restructuring period.

Qantas’ announcement today that it will repay $450 million of debt ahead of schedule appears to be part of a major restructuring of its borrowings ahead of the massive and traumatic next wave of restructuring it is just embarking on.

It is the second early repayment of debt Qantas has made this month, with Qantas repurchasing $US254 million of debt in an earlier transaction.

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