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Qantas Airways Notes Qantas Group Provides Market Update

24 Jun 2022  |  08:32:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Qantas Group Market Update

Qantas Airways noted that Qantas Group provides a market update. It continued strong travel demand across domestic and international has driven further reductions in the Qantas Group's net debt to well below pre-COVID levels. After peaking at more than $6.4bn at the height of the pandemic, net debt is expected to fall to around $4.0bn by 30 June 2022. This is an improvement of around $1.5bn in the past six months. The Group has updated its net debt target range - a key part of its financial framework to be between $4.2bn and $5.2bn. The expectation of Underlying EBITDA for 2H 2022 of $450 - $550m is unchanged.

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