An Analysts View
Qantas shares have risen 5 cents to $2.20 after the statement, but Roger Montgomery of Montgomery Investment Management says the company's share price is lower than a decade ago for good reason.
"Since 2001, the company has raised an additional $2.5 billion and borrowed an extra $2.4 billion and yet the profits today are barely improved on those of a decade ago," he observed.
"The company remains alive thanks to the beneficence of its shareholders and lenders. If the hat ever comes back empty, Qantas will have to return to government ownership or foreign ownership."