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:
- 04-Apr-2018: 1,359,424 shares for a consideration of AUD7.9 million (USD6.1 million);
- 05-Apr-2018: 696,073 shares for a total consideration of AUD4.1 million (USD3.1 million);
- 06-Apr-2018: 931,584 shares for a total consideration of AUD5.5 million (USD4.2 million);
- 09-Apr-2018: 906,432 shares for a total consideration of AUD5.4 million (USD4.2 million).
Air New Zealand and Virgin Australia
Air New Zealand and Virgin Australia announced (04-Apr-2018) plans to end their trans Tasman alliance on 27-Oct-2018, following seven years of partnership. The airlines commenced the strategic alliance at the end of 2010 to cooperate on services between New Zealand and Australia, and will not apply for renewal. Air New Zealand chief revenue officer Cam Wallace said market dynamics on the Tasman market have changed and the time is now right for each airline to focus on its own objectives. Mr Wallace said the move will enable Air New Zealand to “deliver a more consistent customer experience” on its routes to Australia “by using our own fleet and delivering an improved schedule, which we’ll provide more details about shortly”. Mr Wallace said the carrier remains “fully committed to our other alliance relationships and our overall global airline alliance strategy as a critical success factor in other markets.”
Oil Prices Update