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.

The KWM team was led by its head of Australian public M&A David Friedlander, who worked with Qantas general counsel Andrew Finch on the mandate.