King & Wood Mallesons has acted for Australian airline Qantas in its $1.3 billion capital raising as the airline raises funds to underpin its recovery from the COVID-19 crisis.

The airline’s raising of A$1.86 million ($1.3 billion) consists of a A$1.36 billion institutional placement and a A$500 million share purchase plan and comes as it cuts staff numbers 6,000 and continues the stand down for 15,000 employees.