Qantas CEO says Australian state border closures affect the country’s recovery from the coronavirus outbreak

Qantas CEO says Australian state border closures affect the country’s recovery from the coronavirus outbreak

On Thursday, Qantas Airways Ltd.’s (QAN.AX) Chief Executive Officer Alan Joyce stated that Australia’s state border closures would severely affect the country’s recovery from its global travel losses due to the coronavirus pandemic. It also added that the closures would lead to a significant financial loss by the end of the year.

The largest Australian airline company reported its full-year net loss worth 1.964 billion AUD ($1.41 billion) for twelve months that ended on June 30. According to Qantas Airways, it was one of the largest losses of the company due to impairment charges and restructuring costs amid the coronavirus outbreak.

“At the moment, there are no rules around how borders are going to close and going to open. Nobody has an issue with the international borders being closed — that’s protected Australia. Nobody’s had an issue with the borders to Victoria being closed. But it’s very clear that we don’t have clear guidelines for when the borders will open when they will close. So we have this situation where there are large numbers of states and territories that have zero cases, and they’re not even open to each other,” Qantas Airways’ CEO Alan Joyce said after the release of the company’s annual financial results.


Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?