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:
Key news stories of the week
Qantas began its share buy back, announced at the recent half year results meeting. The carrier plans on completing a AUD378 million (USD297 million) share repurchase allocation. This has included:
- 1,662,208 shares for a consideration of AUD10 million (USD7.7 million);
- 5786,415 shares for a total consideration of AUD4.8 million (USD3.7 million);
- 570,163 shares for a total consideration of AUD3.4 million (USD2.7 million);
- 633,686 shares for a total consideration of AUD3.8 million (USD2.9 million).
Qantas and Emirates welcomed (24-Mar-2018) the Australian Competition and Consumer Commission’s (ACCC) decision to reauthorise their partnership until 2023. Qantas International CEO Alison Webster said “The ACCC’s reauthorisation of our joint business is an important milestone in helping us continue deliver benefits for travellers and Australian tourism for the next five years” He reported that the “evolution of our partnership reflects changes in customer demand and will allow us to leverage the latest aircraft technology and maximise new routes”. The partners announced the continuation of the joint business in Aug-2017, with Qantas halting operations to Dubai, in favour of services to Singapore, and Emirates ending trans Tasman operations, in favour of codeshares with Qantas.
Virgin Australia Group announced (21-Mar-2018) the appointment of Merren McArthur as CEO of Tigerair Australia and Mark Davey to the role of Virgin Australian Regional Airlines (VARA) executive GM. Virgin Australia Airlines group executive Rob Sharp will assume responsibility for Virgin Australia Cargo. Merren McArthur joined Virgin Australia Group in 2008. She has held a number of key executive positions within the business, most recently holding the dual role of group executive of Virgin Australia Regional Airlines and Virgin Australia Cargo. She will commence in the role of CEO of Tigerair Australia on 07-May-2018, replacing interim CEO Peter Wilson who will resume his former post as chief pilot & director of flight operations. Mark Davey became head of flight operations at Virgin Australia Regional Airlines in 2014.
Oil Prices Update