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.
Virgin Australia shares surged by 10% this week on the back of positive results announced at the 2017 Annual General Meeting on 08-Nov-2017, and talks of privatisation. Virgin Australia chairwoman Elizabeth Bryan confirmed the carrier’s board has held discussions about privatisation, although there was “no outcome to report to the market at this stage” (Reuters/news.com.au). Chairwoman Bryan said the talks about privatisation were held due to the board’s “responsibility to ensure that we act in the best interests of all shareholders and in the long-term interest of the company”.
During the meeting, Virgin Australia announced the following initial highlights for Q1FY2018:
- Achieved a Q1FY2018 underlying profit before tax improvement of approximately AUD18 million (USD13.8 million) compared to Q1FY2017;
- Group revenue increased 5.7% year-on-year for the quarter;
- Virgin Australia Domestic business unit revenue up 8.8%;
- Virgin Australia Domestic load factor up 3.8ppts to 81.4%;
- Virgin Australia Domestic traffic up 1%;
- Virgin Australia Domestic capacity down 3.3%.
Qantas completed the repurchase of 829,827 shares on the Australian Stock Exchange, for a total consideration of AUD4.9 million (USD3.8 million). The airline has now used AUD206 million (USD157.5 million) of its AUD373 million (USD285.1 million) share repurchase authorisation, repurchasing 34 million shares.
Monthly Share Price Snapshot:
|Air New Zealand||$3.14||$3.16||$3.02||$3.02||$2.98||$2.89|
Oil Prices Update: