Qantas junked again
Qantas faces a further increase in its borrowing costs after Moody’s downgraded its credit rating to "junk" status, just weeks after Standard and Poor’s took the same action.
Moody’s cited "a sharp deterioration in the company’s core domestic business" following the airline issuing a shock profit warning and slashing jobs in December.
In cutting Qantas’s rating to Ba2, or junk status, from Baa3, Moody’s senior vice-president Ian Lewis blamed aggressive competition from domestic rival Virgin Australia.
"The downgrade to Ba2 reflects a worse-than-expected impact on Qantas’s credit profile of a marked sharp deterioration in the company’s core domestic business, which has been a key supporting factor of its previous investment-grade rating.
”Qantas’ domestic business will remain challenged as Virgin’s actions, and Qantas’ response to maintain market share, continue to pressure yield,” he said.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season