Parth Desai

Huge Debt, surely there are better places to park your money.

Peter Ralph

A strong balance sheet? It is has a working capital deficit of in excess of $5 billion which is fine when everyone's paying it cash and it's paying everyone 60 days (think Coles/Woolworths) but it's not so fine when the merry go around stops. It's gross debt to equity is hovering around 200% and net debt to equity around 133%. It's a reasonable balance sheet when compared with its peers but "strong" is stretching it. If it's so strong, why did it hold its hand out to the government for $4 billion?

Tim Kelley

HI Peter. I should probably have said strong compared with competitors. Strong enough (potentially) to get to the other side of COVID-19 without needing to issue equity at discounted prices, nor needing substantial government support; strong enough to capitalise on the weaker position of competitors like VAH and increase market share over time. The $4 billion I believe was intended to highlight to government that supporting VAH could set a dangerous precedent.

Carlos Cobelas

Why would anyone ever want to invest long term in an airline business ? Shorter term trade perhaps. Terrible businesses.