Qantas CEO Alan Joyce says the airline is in “really good shape” despite being wrangled in $3.9 billion in debt.

The Flying Kangaroo posted a $1.7 billion loss this financial year with projections the airline could lose a total of $20 billion in revenue.

“We’ve probably been the most impacted company in Australia, we’re going to lose $20 billion in revenue as a consequence of COVID by the end of this year,” he told Sky News Australia.

“But we’ve taken the necessary action to get through this, unfortunately we’ve had to make 10,00 people nearly redundant, to restructure the business so that when we come out of it we can repay those debt levels fast.”

Mr Joyce said the shareholders were “very supportive” of the restructuring effort and the Qantas’ share price is still strong when compared to other airlines.

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