What gives?
Last year Qantas was busy with a share buy-back at prices that, when compared with today's price, look like a King's Ransom. Now, Qantas is seeking to raise capital by issuing shares in order to fund new fleet. Is the planning such short term that the need to fund fleet was unknown at the time of the share buy-back? We know that a lot has happened in the financial world in the last twelve months - I wonder if the market declines are the reason for this latest capital raising?