Business
Qantas’ remarkable turnaround comes with a lingering hangover for Joyce – Sydney Morning Herald
Alan Joyce’s success in turning the airline cashflow positive next year comes with the caveat that the COVID financial hangover could take time to clear.
It is equally astonishing that an airline that was bleeding cash at the rate of $40 million a week during peak-virus is anticipating it will be cashflow positive in the second half of the 2021 financial year (to June 2021).
The bottom line result will still be a statutory loss in 2021 – the non-cash item of depreciation will be in part responsible and additional redundancy costs will also kick in, thus ensuring the result will be inked in red.
And this degree of financial recovery will be achieved…
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