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 shares surge after Goldman Sachs upgrade

Qantas shares surged to a record high this week, thanks to investment bank Goldman Sachs upgrading the airline’s rating from ‘neutral’ to ‘buy’. The upgrade was a result of “improved prospects for earnings growth at the airline”. The share prices increased by more than 3.5% to the record AUD6.15, finally closing at just under AUD6.13.

Goldman Sachs also suggested the airline could reach AUD6.86, which is approximately 15% higher than the current price.

Roy Morgan Research: Qantas is Australia’s leading domestic airline

Roy Morgan Research released data for Aug-2017, showing Qantas Airlines is Australia’s highest rating domestic airline with a customer satisfaction rating of 83.2%. Qantas has maintained its lead over Virgin Australia (77.6%) for four months now. Regional Express (Rex) improved 5.5% year-on-year with a rating of 72.6% in Aug-2017. Jetstar rounded out the top five with a rating of 63.1%.

Air New Zealand reports share disposals by executives

After the FY2017 results were announced last week, Air New Zealand disclosed (06-Oct-2017) the following share disposals by executives:

  • Cam Wallace, chief revenue officer, 200,000 shares sold, valued at NZD669,520 (USD472,806);
  • Stephen Jones, (former) chief of strategy, networks and alliances, 204,280 shares sold, valued at NZD687,483.91 (USD485,586).

 

Monthly Share Price Snapshot:

01-Sep 08-Sep 15-Sep 22-Sep 29-Sep 6-Oct
Qantas Airways $5.70 $5.65 $5.82 $5.80 $5.83 $6.13
Virgin Australia $0.19 $0.19 $0.18 $0.19 $0.19 $0.18
Air New Zealand $3.24 $3.15 $2.96 $2.98 $3.07 $3.14
Regional Express $1.22 $1.24 $1.31 $1.38 $1.42 $1.42
Alliance Airways $1.14 $1.20 $1.21 $1.18 $1.22 $1.29
Source: ASX

Oil Prices Update: