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.

Monthly Share Price Snapshot:

Source: ASK (Prices in AUD)

Key news stories of the week

Qantas Airways:

Qantas issued (12-Jan-2018) an update on the level of foreign relevant interest in Qantas shares. Based on the most recent reconciliation completed on 12-Jan-2018, foreign persons potentially held relevant interests in 43.6% of the issued share capital of Qantas as at 29-Dec-2017. The Qantas Sale Act 1992 (Cth) and the Qantas Constitution provide that foreign persons are permitted to hold relevant interests of no more than 49% of the issued share capital of Qantas.

 

Virgin Australia

HNA Group stated it lodged five incomplete notices with the Australian Securities Exchange that failed to properly disclose how its major stake in Virgin Australia was controlled. HNA said five substantial holder notices lodged between Jun-2016 and Oct-2017 relating to its 19% stake in Virgin Australia failed to list entities that held a “relevant interest” in the airline. HNA said it failed to include several relevant parties because of “an oversight”. HNA said all its companies in the “chain of ownership down to the entity directly holding [Virgin] shares” were disclosed but “sister companies of those entities were incorrectly omitted as they do not directly or indirectly have an interest in those shares but instead are deemed to have a relevant interest under the Corporations Act“. “HNA Group is committed to complying with its ongoing disclosure obligations in the Australian market”, HNA added. As previously reported, HNA has a total of 1.68 billion securities equating to 19.82% voting power in Virgin Australia.

Virgin Australia ownership:

  • EAG Investment Holding Company Limited, a related body corporate of Etihad Airways, disclosed its ownership position in Virgin Australia, stating it held 1.77 billion securities, for voting power of 20.94%.
  • HNAGroup issued a notice outlining its position as a substantial holder of Virgin Australia Holdings through HNA Tourism Group Co. The company has a total of 1.68 billion securities equating to 19.82% voting power.

 

Oil Prices Update