Qantas will let one Boeing 787 Dreamliner aircraft option lapse, CEO says

Qantas Airways’ first Boeing 787-9 Dreamliner during its collection in Seattle. (Courtesy Qantas)
Updated 05 February 2018

Qantas will let one Boeing 787 Dreamliner aircraft option lapse, CEO says

SINGAPORE: Australia’s Qantas Airways will let one of its 15 options over Boeing 787-9 Dreamliner jets lapse in February and will make a decision on some others in a “few more months,” its chief executive said on Monday.
The airline is looking to expand international flying but wants to be judicious about capital spending as it boosts returns to investors as part of a successful turnaround program.
CEO Alan Joyce said the airline was examining whether to take more 787s than the eight already ordered. At the same time it was considering a business case for its budget arm Jetstar to take Airbus’ A321neos, he said.
“We balance up what are the relative business cases between Jetstar, between Qantas International, Qantas Domestic and Loyalty and figure out given our limited resource of capital what is the best business case to invest the capital in,” he said on the sidelines of a conference ahead of the Singapore Airshow.
Jetstar has 99 A320neo family jets on order. Joyce said the airline was considering whether to take some of the larger A321neo variant, which have a longer range than the older A320s they would be replacing.
That would allow Jetstar to switch flights like Sydney-Bali to A321neos, freeing up its 787-8s for other destinations in the region.


IMF experts visit Lebanon amid worsening economic crisis

Updated 20 February 2020

IMF experts visit Lebanon amid worsening economic crisis

  • IMF team will provide broad technical advice
  • Lebanon has not requested IMF financial assistance

BEIRUT: A team of IMF experts met Prime Minister Hassan Diab on Thursday at the start of a visit to provide Lebanon with advice on tackling a deepening financial and economic crisis, an official Lebanese source said.

The IMF has said the team will visit until Feb. 23 and provide broad technical advice. Lebanon has not requested financial assistance from the Fund.

The long-brewing economic crisis spiraled last year as capital flows into the country slowed and protests erupted against the ruling elite over decades of corruption and bad governance.

Diab’s government, which took office last month, must decide what to do about upcoming debt payments, notably a $1.2 billion dollar-denominated sovereign bond due on March 9.

Lebanese President Michel Aoun meanwhile said on Thursday measures would be taken to hold to account all those who contributed to Lebanon’s financial crisis through illegal actions be they transfers abroad, manipulation of Eurobonds or other acts.

“There is information that we are still in need of with regards to the banking situation. There are measures that we will take to hold to account all who participated in bringing the crisis to where it is,” Aoun said, according to his Twitter account.

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One of Lebanon’s most influential politicians, Parliament Speaker Nabih Berri, said on Wednesday that debt restructuring was the best solution for looming maturities.

Lebanon will on Friday review proposals from firms bidding to give it financial and legal advice on its options, a source familiar with the matter said on Thursday. The government aims to take a quick decision on who to appoint, the source said.

So far, firms bidding to be Lebanon’s legal adviser are Dechert, Cleary Gottlieb, and White and Case, the source said.

Lebanon has issued requests for proposals to seven firms to provide it with financial advice.

The government on Wednesday formed a committee tasked with preparing an economic recovery plan that includes ministers, government officials, a central bank representative and economists, according to a copy of a decree seen by Reuters.