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RAAF airshow announced to commemorate the Centenary of Military Aviation
/ | 10 Comments on RAAF airshow announced to commemorate the Centenary of Military AviationTo celebrate the centenary of military aviation in Australia, Parliamentary Secretary to the Minister for Defence, Darren Chester and Deputy Chief of Air Force, Air Vice-Marshal Leo Davies have launched the Centenary of Military Aviation Airshow to be held at Point Cook, RAAF Williams, near Melbourne on March 1. “The first of March 2014 will be
Read moreStandard & Poor’s junks Qantas’s credit rating
/ | 3 Comments on Standard & Poor’s junks Qantas’s credit ratingCredit rating agency Standard & Poor’s has downgraded Qantas’s credit rating from BBB minus, it’s lowest investment grade rating, to so-called junk status, but Qantas says it is “business as usual”. Separately, fellow ratings agency Moody’s said on Thursday night it had placed Qantas on negative watch but that it was maintaining its Baa3 investment
Read moreQantas in trading halt pending ratings downgrade?
/Qantas has asked the Australian Securities Exchange (ASX) to place its shares in an immediate trading halt. “The trading halt is requested pending receipt of information from Standard and Poor’s in relation to Qantas’s credit rating, which is likely to be materially price sensitive,” company secretary Taryn Morton wrote to the ASX. “Qantas requests that
Read moreTruss, Abbott hose down expectations of government action on Qantas
/ | 3 Comments on Truss, Abbott hose down expectations of government action on QantasWarren Truss, the minister responsible for the transport portfolio, and Prime Minister Tony Abbott have both used separate media engagements to hose down expectations that the federal government will provide financial support to Qantas. “The government isn’t a banker and there are no doubt lots of companies or private individuals that would like government to
Read moreVirgin tries to clear the fog on foreign ownership
| 2 Comments on Virgin tries to clear the fog on foreign ownershipVirgin Australia has issued a sharply worded statement disputing Qantas’s assertions that it benefits from having foreign government owned airlines as its major shareholders. “The proposition that Virgin Australia has access to cheaper capital by virtue of our shareholder base is completely false,” the statement reads, before noting that Air New Zealand and Singapore Airlines
Read moreCOMMENT: Fall and fall – the relative decline of the Flying Kangaroo
/ | 35 Comments on COMMENT: Fall and fall – the relative decline of the Flying KangarooAt the Dubai Airshow Qantas’s major alliance partner Emirates (one of those dastardly foreign government owned airlines) placed colossal orders for 150 Boeing 777Xs and 50 Airbus A380s. That presages yet more booming growth for Emirates. Fast-forward barely two weeks and Qantas is forecasting massive financial losses, 1,000 job cuts and another review of its
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