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 again this week, however the airline confirmed in a letter to an ASX query that it could not definitively explain the reason for the increase. Virgin Australia shares increased from AUD0.23 (10-Nov-2017) to AUD0.26 (17-Nov-2017).
During the week, Virgin Australia also reportedly appointed Tigerair Australia CEO Rob Sharp as group executive Virgin Australia Airlines, making him the most senior manager in the carrier after Virgin Australia CEO John Borghetti. Mr Sharp has led Tigerair Australia since May-2013. He has already been acting in the role of group executive Virgin Australia Airlines for four months, following the resignation of John Thomas in Jun-2017, who departed after only a year with the carrier. The appointment is effective immediately.
Alliance Aviation announced on 16-Nov-2017, IOOF Holdings increased its ownership share in the carrier from 9.302% to 10.356%, with the purchase of 1.5 million shares. IOOF is an Australian investment, financial services and wealth management firm, with a market capitalisation of more than AUD3.3 billion (USD2.5 billion).
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