SYDNEY, March 25 (Reuters) - Qantas Airways Ltd QAN.AX said on Wednesday it had secured A$1.05 billion ($628 million) of funding against its aircraft fleet to help strengthen its financial position as it grapples with a plunge in demand due to the coronavirus pandemic.
The loan has a tenure of up to 10 years, an interest rate of 2.75% and contains no financial covenants in line with the rest of the Qantas debt book, the airline said.
The carrier said it had A$2.95 billion of cash, another A$1 billion undrawn credit facility and a further A$3.5 billion of unencumbered assets available. ($1 = 1.6714 Australian dollars)