SYDNEY May 8 Australia's Qantas Airways Ltd
said on Thursday it plans to cut debt by over A$1
billion ($935 million) by fiscal 2015 to achieve positive free
Qantas, which has been hit by fierce competition, plans to
reduce debt by simplifying its fleet, scaling back investment
and selling assets, it said in a presentation at the Macquarie
investment conference in Sydney.
It also said it expected to cut gross debt to less than four
times of adjusted earnings before interest, taxes, depreciation,
and amortization (EBITDA) by fiscal 2017.
($1 = 1.0713 Australian Dollars)
(Reporting by Maggie Lu Yueyang; Editing by Edwina Gibbs)