Qantas has called in its investment bankers to help consider its liquidity position ahead of its June 30 balance date.
Qantas Airways is considering its financial position ahead of its June 30 balance date. Paul Rovere
The bankers, including long-time adviser Macquarie Capital, are understood to be taking Qantas through a range of options including a $1 billion-plus equity raising.
Sources said Qantas' board, led by chairman Richard Goyder, had yet to sign off on a deal, However, it's understood discussions were set to continue throughout Wednesday night and into Thursday.
While Qantas has resisted calls to raise equity during the COVID-19 pandemic, it is easy to see how the board could decide it was prudent to top up its capital position in light of the circumstances, and ongoing uncertainty about when conditions will improve. There's also the possibility that there could be a second wave of COVID-19 inspired lockdowns, which would prolong the pain for Qantas.