QAN 2.16% $3.31 qantas airways limited

macquarie banks view on qantas

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    Qantas (QAN) - who’s share have tumbled 9 percent following the ACCC’s rejection of the proposed alliance with Air New Zealand - received welcome news yesterday in the form of a strategic alliance between British Airways (BA) and Swiss International Airlines, and the federal government decision to block a push by Singapore Airlines to fly the lucrative Australia-US route.

    The decision by the federal government to block Singapore Airlines access the Australia-US route is a strong positive for QAN who has been facing increased competition on a number of domestic and international routes. However, it appears that the decision was expected by the market, with shares in QAN edging only 1c higher to $3.21.

    BA’s alliance with Swiss International Airlines (SIA) allows QAN, as a member of the oneworld alliance, to expand their commercial relationships with SIA and make greater use of Zurich Airport as a hub for central European flights.

    Macquarie Research Equities (MRE) maintain a short-term Outperform recommendation on QAN and valuation of $4.00, based on their belief that the impact of increased competition on earning will be mitigated by a recovery in international markets and higher domestic demand.
 
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$3.31
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0.070(2.16%)
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$3.25 $3.38 $3.25 $53.21M 16.02M

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$3.33
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Last updated 15.59pm 06/08/2020 (live) ?
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