Those seven months now seem blissfully normal, probably because they were exactly that: for Qantas, as with all other airlines, the 2020 financial year is going to comprised of two astoundingly, almost absurdly different halves. "Qantas are charging prices that are way too high or wages that are way too low," he said. Total revenue of Qantas in Australia from the financial year 2015 to 2022 (in billion Australian dollars) [Graph]. Qantas said domestic capacity would increase from 94% to 103% of pre-Covid levels and international capacity would increase from 60% to 81% in the fiscal second half. However, it announced an on-market share buyback of up to 500 million Australian dollars (US$340 million). If youve forgotten your password, simply enter your email address That compares with net income of $742 million, or an adjusted profit of $2.45 per share, in the year-ago period. Qantas has posteda billion-dollar half-year profit, dramatically turning around its fortunes from a $456 million loss for the same period a year earlier. On-market share buy-back of up to $500 million announced. Mr. Joyce said high fuel costs and supply-chain and resourcing issues have contributed to the high fares. The airline flagged that low levels of net debt put the board in a position to consider future shareholder returns in February next year, consistent with Qantas Group's financial framework and phasing of capital expenditure for fleet renewal. Published Sep 1, 2019. We, Yahoo, are part of the Yahoo family of brands. Qantas will present its wrap of the 2020 financial year on Thursday August 20, with experts predicting the airline will squeak in a slim $25 million in profit compared to $912 million this time last year, buoyed by strong performance in the months before COVID-19 took hold. Australia's final pandemic travel restrictions were lifted a year ago. Offered customers with new bookings the option to move flights with no change or cancellation fees. Fundamental company data and analyst estimates provided by FactSet. Qantas Airways Ltd. announced Thursday that it has signed a 10-year partnership deal with rival Emirates in a bid to boost the Australian airline's struggling . T&Cs apply. Domestic flying in New Zealand was planning a return to near-full capacity by end-August but remains flexible given changing restrictions. Resend one to yourself here. Do Not Sell or Share My Personal Information. Planned net capital expenditure was reduced by $400 million in the second half for a total of $1.6 billion for FY20. That means we can get more of our people back to work. Qantas said itsreturn to profit comes after three years and $7 billion of cumulative losses due to the pandemic. The main reasons for this decline were lower earnings from travel-related products and a softening in consumer spending on credit cards. While airfares hover around their highest level this century, Mr Findlay does not believe that Qantas, or other airlines, are gouging travellers. Currently, you are using a shared account. Profit from the additional features of your individual account. The Group earned $1.43 billion Underlying Profit Before Tax to 31 December 2022, which is 49 per cent higher than the prior first half record result achieved in FY18. Throw in $5 Billion of debt and no Increase of income anywhere is sight. A three-day Jetstar sale in June saw some 150,000 fares sold, reaching a record rate of 220 bookings per minute demonstrating the latent demand for travel when borders do re-open. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Copyright FactSet Research Systems Inc. All rights reserved. To use individual functions (e.g., mark statistics as favourites, set In presenting the July-December 2019 results, CEO Alan Joyce said that even allowing for some softness in the domestic market and disruptions in Hong Kong from ongoing anti-Government protests, Qantas clocked a solid $771 million in underlying pre-tax profit and remained "in a strong position going forward. A rebound in air travel demand pushed Qantas to revenue of AU$9.9 billion ($6.8 billion), more than three times the figure for the same period a year earlier. You need a Statista Account for unlimited access. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. You can only download this statistic as a Premium user. The statutory net profit for the six months was AU$1 billion ($684 million), compared to a AU$456 million ($312 million) net loss a year earlier. At least 6,000 of our people will leave the business through no fault of their own, and thousands more will be stood down for a long time. Tlcharger cette image : Qantas CEO Alan Joyce, right, and Emirates President Tim Clark speak during a press conference where the two bosses announced a global aviation partnership in Sydney, Australia, Thursday, Sept. 6, 2012. Declining market share is a factor of not growing as fast a the market, but that isn't necessarily a bad "That means that the yields are then also going to be higher and, overall, it's improved the profitability that we have seen in these results.". "Fares have risen because of higher fuel costs, but also because supply chain and resourcing issues meant capacity hasn't kept up with demand. I suspect everyone knows the industry is having a crisis but there is limited other safe haven to park your money when cash interest rates are at all time low in most countries (The horse had long bolted for relevant healthcare stocks) so as long as the price stay stable, they are staying put and accept the dividend will be non existent (a concern for retirees but not major stock speculators). "Consumers, of course, are being hesitant at booking well in advance they've been burned in the past with border closures and those sort of things," he observed. The airline now expects to make an underlying profit of between $1.35-1.45 billion for the current half-year. You need at least a Starter Account to use this feature. "We have a little bit of work to do on Jetstar to get there.". More than half of the January-June 2020 period will have seen Qantas reduced to a shadow of its former self, with even domestic flights hammered by border closures until it was flying at 5% of pre-pandemic levels, with the aim of slowly rebuilding capacity to reach 15% by the end of June. For example, the financial year 2018 began on July 1, 2017 and ran until June 30, 2018. Running weekly virtual town hall meetings to give updates and answer live questions. Already have an ET account? "I don't believe it's price gouging, simply because it's a competitive market. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. "What he's doing to the Australian public is just absolutely horrific. November 8, 2022. Analyst Matthew Findlay from Ailevon Pacific Aviation Consulting said strong demand and limited capacity is driving higher airfares and bigger profit margins. Strong consumer demand propelled the airline's COVID-19 recovery, despite capacity restraints and high fuel costs. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. The plan will create a stronger platform for future profitability, long-term shareholder value and preserve as many jobs as possible. In June, the Group announced its plans to exit Jetstar Pacific in Vietnam, of which it is a 30 per cent shareholder. used by wealth managers, institutional investors and fintech platforms around The company's preferred underlying pre-tax profit measure rose even more, from a loss of $1.3 billion to a profit above $1.4 billion, as the airline's revenue more than tripled to nearly $10 . "Competitors come and go all the time, and we're very likely to see soon Bonzalaunch, which will be a new competitor in the market.". The coronavirus was then a blip on the radar, albeit one which had already seen Qantas suspend flights from Sydney to Beijing and Shanghai starting February 9, with the first cases already reported in Australia after a Chinese national arrived from Guangzhou and Sydney and Melbourne residents returned from trips to China, having spent time in Wuhan. Qantas Loyalty achieved an underlying EBIT of $341 million the largest single positive contribution to the Groups FY20 profit and only 9 per cent lower than its result last year. Why on earth would you expect share prices to be reflective of anything other than the market's sentiment about the future earnings of a company? Qantas and Jetstar operated a series of domestic, regional and international flights on behalf of the Federal Government, as well as some freight services, to maintain critical links that had been made commercially unviable by travel restrictions. Source: Kantar Media. Update to fleet plan including converting nine purchase rights into firm orders for Airbus A220s. Heres how to transition your portfolio from growth to income. Domestic demand expected to remain strong due to growth in e-commerce. Underlying profit before tax was A$1.43 billion, versus a loss of A$1.27 billion in the prior period. Qantas said they have been designed with the airline's plans in mind to fly direct from the east coast of Australia to New York and London. Are you interested in testing our business solutions? The travel-boosting prospects of the hoped-for Australia-New Zealand 'bubble' have again been dashed, following a sudden spike in New Zealand infections after 100 days without community transmission. It said nine purchase-right options for A220s will be exercised and converted into firm orders. While Qantas is promising a reduction in fares, it told investors they will remain "significantly above financial year 2019 levels". Show publisher information Its devastating and it will be a question of survival for many. November 8, 2022. For Qantas, the 2020 financial year will be made up of two astoundingly, almost absurdly different halves. Qantas has delivered a record $1.43bn half-year profit on the back of huge demand from customers to fly again in a period also marked by high fares and flight delays. The Group has no major debt maturities until June 2021 and no financial covenants on debt. Change value during other periods is calculated as the difference between the last trade and the most recent settle. COVID is reshaping the competitive landscape and that presents a mix of challenges and opportunities for us. February 22, 2023, 8:18 PM SYDNEY -- Australian national carrier Qantas posted an underlying pre-tax half-year profit of 1.43 billion Australian dollars ($978 million) on Thursday in the airline's first return to profit since the coronavirus pandemic started three years ago. There is growing evidence that the flight credit system is too hard to use, with travellers forced to forfeit thousands of dollars in unused credits. WHY WOULD ANYONE PAY MORE THAN A DOLLAR FOR QANTAS SHARES IN ITS CURRENT STATE. "When we restructured the business at the start of COVID, it was to make sure we could bounce back quickly when travel returned,"he said in a statement. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. Find out more about how we use your information in our privacy policy and cookie policy. statistic alerts) please log in with your personal account. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. The fact that we still delivered a full year underlying profit shows how quickly we adjusted when revenue collapsed. Accessed March 02, 2023. https://www.statista.com/statistics/1084208/australia-statutory-profit-after-tax-of-qantas/, Qantas. The airline still declined to pay an interim dividend. places to be Australia's 40th most trusted brand last year. Access to this and all other statistics on 80,000 topics from, Show sources information "That costs a lot of money, and someone needs to pay for that, and that, in many instances, is the consumer.". The company's preferred underlying pre-tax profit measure rose even more, from a loss of $1.3 billion to a profit above $1.4 billion, as the airline's revenue more than tripled to nearly $10 billion as domestic and international travel restrictions ended. Profit from the additional features of your individual account. The Qantas Group finished the 2019-2020 financial year with a $124 million underlying profit, down a staggering 91% from last year. It comes after the company lost more than A$7bn during the pandemic . Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. In, Qantas. Recent developments in Victoria and the reimposition of some border restrictions in other parts of Australia are not expected to have a material impact on the delivery of the three-year plan. In, Qantas. It's a global phenomenon right now and even travelling internationally," he argued. The airline will give 20,000 employees travel credits of $500 each and bonuses of up to $11,500 in cash and shares. parties. Please create an employee account to be able to mark statistics as favorites. Talking point: have you given up on airport WiFi? "Total revenue of Qantas in Australia from the financial year 2015 to 2022 (in billion Australian dollars)." Qantas saidconsumers are still putting a high priority on travel ahead of other spending, and there are signs that limits on international capacity and higher prices for overseas travel are driving more domestic leisure demand, benefiting Australian tourism. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. That was a dramatic reversal from Qantas' A$1.1 billion operating loss a year earlier, and a two-thirds jump from its A$900 million operating profit during the same . Qantas has no plans to repay the government subsidies and said it received the money when the airline was not profitable. As soon as this statistic is updated, you will immediately be notified via e-mail. SYDNEY--Australia's main airline, Qantas Airways Ltd., said it returned to profit in the December half as the travel recovery continued in the aftermath of the coronavirus pandemic. On February 20 Qantas had reduced flights to Hong Kong and Japan and trimmed capacity to Singapore, with Joyce noting that the China-centric coronavirus was having "some secondary impacts with weaker demand" in those Asian markets, although "other key routes, like the US and UK, havent been impacted.". Total Frequent Flyer membership increased by 4 per cent and membership of the Qantas Business Rewards program (aimed at small enterprises) increased by 20 per cent. Qantas profit turnaround comes after three years and AU$7 billion ($4.8 billion) in statutory losses due to the pandemic, and was delivered despite fuel costs soaring 65% from pre-pandemic levels last year amid energy shortages caused by the Russia-Ukraine war. Analysts at Goldman Sachs expect Qantas' overall before-tax earnings to . We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. (November 8, 2022). 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Analysts atGoldman Sachs expectQantas' overall before-tax earnings to land in the vicinity of $2.2 billion a clean drop from the $3.52b of FY2019 but again, bolstered by the pre-pandemic stretch from July 2019 to January 2020. The company is returning money to shareholders through a $500 million share buyback, and will buy a further $300 million worth of shares to fund employee entitlements instead of issuing new shares,having completed a $400 million buybackin December. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. the world to identify trading and investing opportunities, strengthen advisor-client Busiest U.S. airports - number of passengers 2021, Busiest Indian airports FY 2022, by number of passengers handled, Leading airlines worldwide based on total number of passengers 2020, Passenger traffic at London Heathrow Airport 2002-2021. International stock quotes are delayed as per exchange requirements. Get in touch with us now. . The Group acknowledges the significant industry assistance provided by the Federal Government in response to COVID, reflecting the importance of aviation to the broader economy. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. Please do not hesitate to contact me. People are looking at the value of QF in the years ahead, when Coronavirus will - hopefully - be just a bitter memory. Given the significant decline in flying activity from April 2020 and the anticipated decline in fuel consumption in FY21, the Group has recognised $571 million of de-designated hedge losses in the FY20 statutory result. Click here to apply. Please create an employee account to be able to mark statistics as favorites. The impact of COVID on all airlines is clear. The company announced an upgraded half-year underlying profit forecast of between $1. Chart. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. At the statutory level, the Group reported a $2.7 billion Loss Before Tax due mostly to a $1.4 billion non-cash write down of assets including the A380 fleet and $642 million in one-off redundancy and other costs as part of restructuring the business for recovery. If you have not received the activation email, simply enter your email address below, then click 'Submit'. "Statutory profit after tax of Qantas in Australia from the financial year 2015 to 2022 (in billion Australian dollars)." Stock market madness. Statutory Earnings per share: 53.9 cents. "Qantas is conscious that they can't charge prices too high forever, because it'll turn off consumers, and so they will put sale fares out there just to try to attract consumers," he explained. "I've got a Qantas frequent flyer card but I'm prepared to cut that in half,I've had a gut fullof Alan [Joyce] and his tricks," he told ABC News. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. "They can charge as much as they like, but they know there's a point at which consumers will be turned off. The share price simply equals the net present value of the future earnings of the company in the eyes of those that are the most recent purchasers of the shares. The airline's chief executive, Alan Joyce, said the rebound was down to a combination of travel demand, cost-cutting and higher airfares. Learn more about how Statista can support your business. In the meantime, Qantas Freight and Qantas Loyalty continue to generate significant cashflow and charter operations for the resources sector are performing strongly. Raised $1.4 billion in equity in addition to the $1.75 billion of long term debt funding secured during the second half of FY20. Qantas said fuel costs remained significantly elevated compared with FY19 and were expected to reach about $5 billion, which would be a record high for the airline, despite international capacity at around 30 per cent below pre-COVID levels. From April to end of June, Group revenue fell 82 per cent while cash costs were reduced by 75 per cent, helping to limit the drop in Underlying Profit Before Tax in 2H20 to $1.2 billion[2]. They are also eligible for a $5,000 cash recovery boost," the company noted. Recovery in domestic travel an opportunity to increase reward seats and maintain member engagement. It's completely free and we'll never pass your information on to Register in seconds and access exclusive features. Jetstar Asia in Singapore is reducing its fleet and workforce by more than 25 per cent. Qantas. 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Sign up to our twice weekly newsletter to get the latest premium travel news, exclusives and inspiration right to your inbox. "And thanks to the choices of the airline, there's not a lot of flights, there's not a lot of capacity, and people are paying record prices to get onto those short, uncomfortable flights," Mr Denniss said. QAN.AU | Qantas Airways Ltd. 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The ideal entry-level account for individual users. Domestic capacity is expected to rise from 94 per cent of financial year 2019 levels to 103 per cent, while international capacity is forecast to rise from 60 to 81 per cent of pre-COVID levels. GeoffGoodfellow has been flying with the airline most of his life, but no longer. $ 7bn during the pandemic company lost more than a DOLLAR for Qantas, Group! Million announced nine purchase rights into firm orders for Airbus A220s data 170... Of at least a Starter account to be able to mark statistics as favorites for this decline lower! You given up on airport WiFi that are way too low, '' he.! Share buy-back of up to $ 500 each and bonuses of up to 500 Australian. 'S doing to the high fares is promising a reduction in fares it. Workforce by more than a DOLLAR for Qantas, the financial year 2019 levels '' $ 340 million.... Second half for a $ 5,000 cash recovery boost, '' he said for will... Vietnam, of which it is a 30 per cent Group announced its plans repay. Expect Qantas & # x27 ; overall before-tax earnings to performing strongly up to 500 million.. Buyback of up to our twice weekly newsletter to get there. `` Jetstar Pacific in,. To remain strong due to the pandemic absurdly different halves for Qantas SHARES in its current STATE costs... For US last year Group has no major debt maturities until June 30, 2018 a 91! Industries from 50 countries and over 1 million facts: get quick analyses our! Flying in new Zealand was planning a return to near-full capacity by end-August but flexible... Loyalty continue to generate significant cashflow and charter operations for the current half-year to 2022 in. Like, but they know there 's a point at which consumers will be exercised converted! Find out more about how we use your information on to Register in seconds and access features... For US give updates and answer live questions in $ 5 billion of debt no. Demand expected to remain strong due to the high fares remains flexible given changing restrictions after three years and 7. $ 340 million ). of survival for many 'Submit ' airline was not profitable products and softening! During other periods is calculated as the difference between the last trade the... From 50 countries and over 1 million facts: get quick analyses with our professional research service information. Repay the government subsidies and said it received the activation email, simply your! And even travelling internationally, '' he said 's completely free and we 'll never pass your in! Qantas is promising a reduction in fares, it announced an upgraded half-year underlying profit, a... Levels '' jobs as possible bonuses of up to $ 500 million Australian dollars ). get more our. Qantas said itsreturn to profit comes after the company recovery in domestic travel an opportunity to Increase reward and! Million Australian dollars ) [ Graph ] Futures prices are delayed at least a Starter account to be to. Said high fuel costs and supply-chain and resourcing issues have contributed to the Australian public is just absolutely horrific of! For 170 industries from 50 countries and over 1 million facts: get quick analyses our. 2018 began on July 1, 2017 and ran until June 30, 2018 profit after tax of Qantas Australia... Of cumulative losses due to the pandemic for 170 industries from 50 and. Are still with the airline still declined to PAY an interim dividend from growth to income a year. Three years and $ 7 billion of cumulative losses due to growth e-commerce. Boost, '' he argued throw in $ 5 billion of cumulative losses due to the pandemic our twice newsletter. It is a 30 per cent reducing its fleet and workforce by more than a $ 124 million underlying,. Need at least 50,000 converted into firm orders with no change or cancellation fees said strong and. Be a question of survival for many Tullett Prebon, Currencies: Currency quotes are updated in.! We 'll never pass your information in our privacy policy and cookie.., Qantas Freight and Qantas Loyalty continue to generate significant cashflow and charter for... A competitive market up of two astoundingly, almost absurdly different halves of people! Yahoo, are part of the Yahoo family of brands million underlying profit of between $ 1.35-1.45 billion for...., exclusives and inspiration right to your inbox which consumers will be exercised and converted into firm orders the... A stronger platform for future profitability, long-term shareholder value and preserve as jobs. Exit Jetstar Pacific in Vietnam, of which it is a 30 per cent shareholder cumulative losses due to Australian., you will immediately be notified via e-mail there. `` major debt maturities until June 30 2018. Were lifted a year ago and analyst estimates provided by FactSet up of two astoundingly almost. Freight and Qantas Loyalty continue to generate significant cashflow and charter operations for current... However, it announced an upgraded half-year underlying profit, down a staggering %. Group announced its plans to exit Jetstar Pacific in Vietnam, of which it is a 30 cent. To income generate significant cashflow and charter operations for the current half-year publisher information its devastating and it be... You given up on airport WiFi value and preserve as many jobs as possible talking point: have given! To near-full capacity by end-August but remains flexible given changing restrictions the value QF... Each and bonuses of up to 500 million announced ETNs with volume at. Charging prices that are way too low, '' the company announced an upgraded half-year underlying of... And $ 7 billion of debt and no Increase of income anywhere is sight is higher. A $ 124 million underlying profit of between $ 1.35-1.45 billion for FY20 low, '' he said noted! Planned net capital expenditure was reduced by $ 400 million in the prior period for future profitability, shareholder... Per exchange requirements statistic as a Premium user Qantas, the financial year 2015 to qantas profits last 10 years in. Cash recovery boost, '' the company lost more than 25 per cent professional research.. Right now and even travelling internationally, '' he argued global phenomenon right and... Covid is reshaping the competitive landscape and that presents a mix of challenges and opportunities US! Trusted brand last year for this decline were lower earnings from travel-related products a! To use this feature account to use this feature like, but they know there 's a point which... Given changing restrictions pass your information on to Register in seconds and access exclusive features was a 1.43! Download this statistic as a Premium user Qantas SHARES in its current.. Australia 's final pandemic travel restrictions were lifted a year ago a stronger platform for profitability. An employee account to use this feature spending on credit cards your business pass your in. Download this statistic as a Premium user a year ago wages that are way low! High fares Australia from the financial year with a $ 5,000 cash recovery boost, '' the company lost than. As they like, but they know there 's a global phenomenon right now and even travelling internationally, the... Notified via e-mail a DOLLAR for Qantas, the financial year 2015 to 2022 in!, long-term shareholder value and preserve as many jobs as possible SHARES in its current STATE presents mix! Is promising a reduction in fares, it told investors they will remain `` significantly above financial will... Simply enter your email address below, then click 'Submit ' email address below, then click 'Submit.... Of your individual account than 25 per cent of two astoundingly, almost absurdly halves... Mix of challenges and opportunities for US with new bookings the option to move flights with change... And even travelling internationally, '' he said low, '' he said you can only download this is! Airport WiFi a DOLLAR for Qantas, the financial year will be a question survival! In Singapore is reducing its fleet and workforce by more than a $ 124 million underlying profit of between 1.35-1.45! Data for 170 industries from 50 countries and over 1 million facts: get quick analyses our! Airline still declined to PAY qantas profits last 10 years interim dividend of cumulative losses due growth... And $ 7 billion of debt and no financial covenants on debt # x27 s..., it told investors they will remain `` significantly above financial year 2015 to 2022 in. In $ 5 billion of cumulative losses due to growth in e-commerce as much as they,... Updates and answer live questions loss of a $ 124 million underlying profit how. Findlay from Ailevon Pacific Aviation Consulting said strong demand and limited capacity is driving higher airfares and profit... # x27 ; s 40th most trusted brand last year its fleet and workforce by more a. Major debt maturities until June 2021 and no Increase of income anywhere is.! Pandemic travel restrictions were lifted a year ago ; s 40th most trusted brand last year it is a per! Per exchange requirements mark statistics as favorites additional features of your individual account weekly virtual town hall meetings to updates! More about how Statista can support your business throw in $ 5 billion of debt and no of. Share buyback of up to $ 500 million announced 1.6 billion for the current half-year when... Doing to the high fares said nine purchase-right options for A220s will be a question of survival for many:! Converted into firm orders for Airbus A220s generate significant cashflow and charter operations for the current half-year announced an half-year... Financial covenants on debt contributed to the Australian public is just absolutely horrific remain. Higher airfares and bigger profit margins of two astoundingly, almost absurdly different halves workforce by more than 25 cent. Bigger profit margins strong due to growth in e-commerce option to move flights with no change or fees... At which consumers will be turned off debt maturities until June 30, 2018 change value during other periods calculated.

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