Aircraft
Qantas Secures Major Private Funding Facility
The Australian flag carrier uses seven Boeing 787-9s as collateral for a new loan.
A Qantas Boeing 787-9 taxis at Melbourne Airport in Australia on November 20, 2018. (Image: Flickr: Creative Commons (BY) by Ev Brown)
A Qantas Boeing 787-9 taxis at Melbourne Airport in Australia on November 20, 2018. (Image: Flickr: Creative Commons (BY) by Ev Brown)

The Qantas Group has managed to secure A$1.05 billion ($622.6 million) in debt funding against seven of its 11-strong fleet of wholly-owned Boeing 787-9s it bought with cash in recent years, the company announced Wednesday. The loan, carrying a tenure of up to 10 years at an interest rate of 2.75 percent, comes during a period in which the coronavirus outbreak has severely limited the availability of debt financing.