the dominant, financially strong and superbly structured and focused Qantas
....mmmm, someone is enjoying their Chairman’s Lounge membership🤔
His ‘House’ analogy doesn’t really make a lot of sense. In addition his understanding of Airline operating economics appears to be, shall we say, ‘limited’. For a start the current shareholders are getting zip, that’s a given. The judgement for the unsecured creditors is wether they think they can extract more value out of a total liquidation or, ultimately get more with some small % of their bonds and/or some sort of debt for equity arrangement if the operation continues. Another question given the current environment, is wether the so called ‘secured creditors’ have their exposure covered given that trying to liquidate 40 or so 737NGs may be problematic.