Qantas Airways Ltd
QAN: XASX (AUS)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| A$8.10 | Nsfpf | Vhmmtknc |
We Expect Qantas' Domestic Capacity to Fully Recover by Fiscal 2022
Business Strategy and Outlook
The COVID-19 pandemic continues to wreak havoc on the global airline industry. Lockdowns, border restrictions, and social distancing measures have clipped Qantas' wings. Stringent Australian entry requirements for international arrivals and a ban on noncitizen, nonpermanent resident arrivals have decimated passenger revenue, and despite aggressive cost-cutting, we expect operating deleverage to lead to significant aftertax losses in 2021.