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 continued 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. Last week’s buy back included:

  • 21-May-2018: 1,242,843 shares for a total consideration of AUD7.8 million (USD5.9 million);
  • 22-May-2018: 501,180 shares for a total consideration of AUD3.1 million (USD2.3 million);
  • 23-May-2018: 513,154 shares for a total consideration of AUD3.3 million (USD2.5 million);
  • 24-May-2018: 1,144,080 shares for a total consideration of AUD7.2 million (USD5.5 million);
  • 25-May-2018: 835,169 shares for a total consideration of AUD5.3 million (USD4.0 million).

Virgin Australia:

Virgin Australia priced AUD150 million (USD112.9 million) in senior unsecured fixed rate notes due 2023. Settlement and completion is expected to occur on 30-May-2018, subject to closing conditions. Net proceeds of the proposed notes will be used by the Virgin Australia Group to refinance part of its US 144A bond, which matures in Nov-2019, as well as for general corporate purposes.

Oil Prices Update