South Pac Share and Oil Price Weekly Update

Each week the Blue Swan Daily brings you a snap shot of the key share and oil prices related to all things travel and aviation.

Qantas Airways:

Qantas conducted (06-Dec-2017) the final purchase of its AUD373 million (USD283.7 million) on market share buy back scheme, repurchasing 974,770 shares for a total consideration of AUD5.4 million (USD4.1 million). The carrier repurchased 63.1 million shares. The highest price paid was AUD6.52 per share (USD4.959) on 18-Oct-2017. The lowest price paid was AUD5.42 per share (USD4.122) on 05-Dec-2017.

Air New Zealand:

Air New Zealand announced (07-Dec-2017) a grant of 216,954 restricted share rights to CEO Christopher Luxon on 30-Nov-2017, under the carrier’s CEO restricted share rights plan. The restricted share rights are issued by the carrier’s board, based on an assessment of the CEO’s performance measured against individual objectives set for the financial year. The airline also issued 3,096,055 performance rights for no consideration to CEO Christopher Luxon and other selected executives on 30-Nov-2017. The rights are issued under the carrier’s 2015 long term incentive performance rights plan. The vesting of the rights are subject to the carrier’s share price outperforming a comparison index, derived from an average of the New Zealand Stock Exchange and the Bloomberg World Airline Index, over a three year period.

Air New Zealand also announced it will delay and cancel some services over the coming weeks as a result of two recent events involving Rolls-Royce engines on Boeing 787-9 aircraft. The carrier will cancel Auckland-Perth, Auckland-Osaka and Auckland-Houston return services and will retime some other international services between 09-Dec-2017 and 10-Dec-2017, as the Trent 1000 engines require maintenance sooner than previously indicated. Rolls-Royce does not have any replacement engines available, which means some schedule changes are unavoidable. Air New Zealand is also focused on securing replacement aircraft capacity.

Monthly Share Price Snapshot:

Source: ASX

Oil Prices Update: