Qantas Makes Scrip Play for Alliance Aviation
Qantas is trying to tighten its grip on the Australian aviation sector by taking over the big fly-out operator Alliance Aviation for more than $900 million worth of QAN shares.
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Qantas Airways Limited
Founded in the Queensland outback in 1920, Qantas has grown to be Australia’s largest domestic and international airline.
Registered originally as the Queensland and Northern Territory Aerial Services Limited (QANTAS), Qantas is widely regarded as the world’s leading long distance airline and one of the strongest brands in Australia. We’ve built a reputation for excellence in safety, operational reliability, engineering and maintenance, and customer service.
The Qantas Group’s main business is the transportation of customers using two complementary airline brands – Qantas and Jetstar. Our airline brands operate regional, domestic and international services. The Group’s broad portfolio of subsidiary businesses ranges from Qantas Freight Enterprises to Qantas Frequent Flyer.
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News
Flying Kangaroo Set to Leave the Government Pouch
Having endured a couple of Covid-related false starts and a surge in oil and fuel prices, Qantas has finally forecast a return to profitability after years of relying on government support.
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Flying Kangaroo Ready to Spread its Wings
Pent-up demand and Australia’s high vaccination rates have seen credit rating agency Moody’s lift its outlook for Qantas from “negative” to “stable” for the first time since 2020.
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Recovery Remains Slow but Moody’s Backs Qantas
Credit rating group Moody’s has once again given strong support to Qantas’s efforts to remain in business, despite the company's continuing high levels of debt and delays to full flying.
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Hits Just Keep on Coming for the Travel Industry
The circumstantial siege that has beset the travel sector since Covid emerged in 2020 shows no signs of letup, just as it seemed some light was breaking through at the end of the tunnel.
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Analyst Views
QAN – Credit Suisse rates the stock as Underperform
The broker raises its target price to $4.60 from $4.10 on a change of valuation method and maintains its Underperform rating.
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QAN – Credit Suisse rates the stock as Underperform
The target price of $4.10 and Underperform rating are unchanged, despite the analyst increasing the estimated loss for FY22 to -$1.6bn from -$1.2bn.
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QAN – Credit Suisse rates the stock as Underperform
Credit Suisse maintains the Underperform rating and believes the share price doesn't adequately reflect the risk of further covid disruptions. The target is kept at $4.15.
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QAN – Credit Suisse rates the stock as Underperform
Credit Suisse adjusts forecasts to allow for a more favourable working capital position in FY22. The broker maintains an Underperform rating and raises the target to $4.15 from $3.90.
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