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Qantas Airways Promotes Gareth Evans to Group CFO

Qantas Airways Ltd., Australia’s largest carrier, promoted Gareth Evans to chief financial officer, a role he has been performing since Colin Storrie resigned in March.

Evans will now supervise finances for all business units after previously having responsibility for only the Qantas airline division, Sydney-based Qantas said in a statement today. Storrie announced his resignation March 2, citing “personal and health reasons.”

As CFO, Evans may oversee financing for the more than 160 planes the carrier, which flies under its own name and the Jetstar budget service, has on order. Qantas, one of only three publicly traded airlines with an investment grade credit rating from Standard & Poor’s, has A$3.2 billion ($2.8 billion) of bonds and loans maturing by 2020, according to data compiled by Bloomberg.

“Gareth was appointed after a search process that considered a very strong internal and external field,” Chief Executive Officer Alan Joyce said in the statement.

Evans joined the company in 1999 after holding finance roles with Caltex Australia Ltd. and KPMG in the U.K.

Qantas shares rose 3.3 percent to A$2.47 at the close of trading in Sydney. The benchmark S&P/ASX 200 index advanced 1.2 percent.

The airline is rated BBB by Standard & Poor’s, the same ranking as Southwest Airlines Co. Deutsche Lufthansa AG, which is rated BBB-, is the only other carrier with an investment grade rating, according to Bloomberg data.

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