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Qantas bond risk flies as S&P cuts rating to junk

Shares drop to record low as default risk rises on expectation of losses

[SYDNEY] Qantas Airways Ltd's bond risk climbed above lower-rated British Airways Plc for the first time since 2007 as Australia's largest carrier considers asset sales to help fund new aircraft purchases.

The cost of insuring Qantas against a default rose 65 basis points to 280 basis...

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