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CDS traders await clarity on Qantas aid

Wednesday, February 19, 2014 - 06:00

Keeping it flying: Qantas needs debt to pay for planes and other capital expenditure over the year to June, the airline said on Dec 5 as it announced plans to cut 1,000 jobs and A$2 billion in costs. - PHOTO: REUTERS

[SYDNEY] Default-risk prices suggest traders are reserving judgment on how Australia's government will play the "political football" of aid for Qantas Airways Ltd. Credit default swaps (CDS) on the nation's biggest airline rose 81 basis points between its forecast of a first-half loss on Dec 5

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