Qantas seeking capital

Singapore
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Qantas Airways is looking to raise cash, possibly by issuing more shares, and this has meant that as of today trading of shares in the company has been temporarily suspended.

The Australian stock exchange has temporarily suspended trading of Qantas shares following a statement from the Onewold carrier calling for a two-day suspension on the grounds that it will be making an announcement soon with regards to planned "capital management initiatives".

Qantas issued today's statement after the exchange asked Qantas why the share price had suddenly fallen in a matter of days to A$2.29 ($1.46) a share from A$2.49.

If Qantas seeks to raise capital through a rights issue it will be selling the shares at a historic low.

Qantas shares in recent years have generally stayed above A$3 and in October 2007 peaked at around A$6 a share.

Qantas has some major financial commitments coming up including introduction of Boeing 787s.