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 – Citi rates the stock as Buy
Buy rating and $5.93 target price are unchanged.
Read MoreTakeoffs and Bumpy Landings in the Local Airspace
Plenty of action in the travel sector yesterday, as the ACCC put the kibosh on a proposed alliance between QAN and Japan Air, and Sydney Airport finally relented to the ongoing bid for the company.
Read MoreDelta Clips Travel Stocks’ Wings, Profits
As expected, Qantas, Air NZ and Flight Centre all clocked up losses in the year to June 30 thanks to the continuing impact of Covid and its variants on domestic and international travel.
Read MoreQantas Grounds 2500 Employees
Qantas dropped the axe on around 2,500 frontline workers on Tuesday as the impact of the Sydney lockdown in particular hit the airline’s operations and those of its Jetstar subsidiary.
Read MoreQAN – 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.
Read MoreMarket OK with Qantas Long-Haul Route to Recovery
Despite the prospect of more red ink, Qantas shares rose yesterday as investors liked the news of an upsurge in domestic travel, peaking debt, more job cuts and a two-year wage freeze.
Read MoreQantas Takes Short-Term Hit but Talks Up Long-Term
Not surprisingly, there’s more red ink at Qantas, with the airline forecasting a loss of more than $2 billion for the year to June.
Read MoreNew Covid Outbreak Sends Qantas Shares to 3-Month Low
A win and a loss for Qantas yesterday but the new Covid cases in Sydney provided the spark that sent the shares to the lowest they have been for nearly three months.
Read MoreQantas Wins One, Loses One
A win and loss for Qantas, as the company is incentivised to keep its HQ in Sydney but has the kibosh put on a proposed route deal with Japan Airlines by the ACCC.
Read MoreQantas On Recovery Route, Profits A Bit Longer
A vaccine, re-opening of domestic borders and a tourism support package are stimulating renewed interest in Qantas. How will this play out for a return to profit?
Read MoreQAN – 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.
Read MoreQAN – UBS rates the stock as Buy
The first half loss of -$1.03bn was slightly better than UBS expected. UBS retains a Buy rating and $6.20 target.
Read MoreQantas Checks In As Domestic Capacity Returns
The meandering course of the coronavirus pandemic continues to play havoc with the outlook for Qantas (QAN) yet the airline’s update has signalled a recovery is underway.
Read MoreQAN – UBS rates the stock as Buy
Domestic capacity will increase to almost 70% of pre-pandemic levels by the end of the year. UBS suspects Qantas is taking share and the recent news around a vaccine now outweighs the risk of further domestic border closures.
Read MoreQantas Flags International “Standstill” Until Late 2021
Qantas shares hardly reacted to an update from the airline that made it clear the airline will not recover for more than a year. While it said its scheduled domestic capacity of flights has bounced back to almost 70% of pre-pandemic levels for this month and will hit 80% early next year, the missing 20% and international flying will take much longer to return.
Read More“Another Tough Day” As Qantas Axes More Staff
Qantas has revealed 2,000 jobs will be axed across 10 Australian airports, as part of its overhaul aimed at keeping Qantas flying when global markets re-open in the wake of the successful introduction of vaccines for COVID-19.
Read MoreWord of the Year – 2021?
Dion Hershan, Head of Australian Equities at Yarra Capital Management, looks at the opportunities that are emerging from a bleak 2020.
Read MoreQAN – Macquarie rates the stock as Outperform
Macquarie suspects Qantas could experience a faster recovery domestically as borders continue to re-open and pent-up demand for movement around the country occurs.
Read More“Devastated” Qantas Pins Hopes On “Choppy” Recovery
Qantas big loss was probably the most expected result for the June 30 financial year thanks to the impact of COVID-19, the lockdowns and border closures, and well-paced trading updates from the airline’s board and management.
Read MoreNews Shorts: Kogan Flying, Qantas SPP Falls Flat, Sigma Slims Down
Another solid update from e-tailer Kogan, Qantas investors have given the airline the biggest thumbs down imaginable in rejecting help the company boost its liquidity while Sigma Healthcare has sold and leased back two of its Distribution Centres (DC’s) for $172 million, half the number of centres in the original deal.
Read MoreRatings Group Moody’s Backs ‘Credit Positive’ Moves At Qantas
Ratings group, Moody’s reckons Qantas’ $1.9 billion capital raising, 6,000 job cuts and other measures announced late last week will be “credit positive because Qantas will use the proceeds to strengthen its balance sheet and improve its financial flexibility, in line with its financial framework.”
Read MoreQAN – Credit Suisse rates the stock as Underperform
Qantas has announced an equity raising of $1.36bn. The proceeds will fund a three-year recovery plan and pay down debt.
Read MoreQantas Taps Investors For $1.9bn, Will It Be Enough?
Qantas’s $1.86 billion raising is the second biggest so far in the COVID-19 crisis after the NAB’s massive $4.25 billion in May. The detail in presentations to investors reveal the airline will spend the next two years hacking and slashing at its businesses, staffing levels, and facilities with full benefits of the changes not emerging until 2023.
Read More6,000 Jobs To Go As Qantas Plots Virus Recovery Plan
Qantas has finally bitten the bullet and started adjusting to life as an airline in a COVID-19 world. It revealed on Thursday plans to sack at least 6,000 of its 29,000 employees, will report a massive loss for the year to June in excess of $2.8 billion, and has launched a $1.9 billion capital raising in response to the COVID-19 pandemic.
Read MoreMoody’s Backs “Recovery Prospects” For Qantas, Air New Zealand
Global ratings group, Moody’s reckons Qantas and Air New Zealand are among the best-placed airlines to start the long-haul to recovery from the impact of the COVID-19 pandemic lockdowns and social distancing rules that have all but halted international and domestic air travel.
Read MoreMasks, Sanitising Stations: Qantas Outlines “New Normal”
Qantas and Jetstar yesterday revealed the new look for airline travel once the COVID restrictions on travel are eased and international and intrastate border controls disappear in short social distancing rules will be not enforced on travel, but offered masks and revamped check-in procedures will be the new ’normal’.
Read MoreJoyce Plots New Course For Qantas
Like the big banks, Qantas is looking to go on a post-COVID-19 diet, getting rid of expansionist ideas, businesses that don’t earn their way or detract from future gains.
Read More“The World Has Changed”: Warren Buffett Sells Entire Stake In Airline Sector
Watch US and global airline shares slump tomorrow after Warren Buffett told the Berkshire Hathaway virtual annual meeting that his company had bailed out of all its holdings in America’s four major carriers – United, American, Southwest, and Delta.
Read MoreVirgin, Rex Ramp Up Bailout Pleas
Virgin Australia wants a bailout from Canberra, regional operator, Rex does as well, while Air New Zealand, which last week received a $NZ900 million capital injection from the Kiwi government, has started following its Australian rivals and slashing staff numbers.
Read MoreSingapore Inc Steps Up To Save National Carrier
Singapore Inc has come to the party and bailed out the nation state’s global flag carrier, Singapore Airlines in a $S19 billion refinancing that will stop the crippled airline from imploding.
Read MoreQantas Shares Rebound On Debt Deal As Virgin Grounds Tiger
In stark contrast to Cochlear’s fund raising, Qantas said on Wednesday that it had borrowed $1.05 billion in new debt to help see it through the coronavirus crisis.
Read MoreTighter Travel Restrictions Inflict More Pain On Airlines
Don’t be surprised if trading in the shares of Qantas and Virgin Australia is suspended after the federal government warned against non-essential interstate travel and the states tightened their borders to stop the spread of coronavirus.
Read MoreWith Borders Closed Travel Stocks Are In An Absolute Crisis
The crisis in the travel and aviation sector worsened yesterday with the Federal government banning all foreigners from entering Australia from midnight tonight and again told Australians returning from overseas that they will have to undergo 14 days of quarantine.
Read MoreVirus Turmoil: Oil Search, Flight Centre, Qantas, Kathmandu, REA Group, Ramsay Health, Aristocrat
Yesterday saw a host of downgrades and other poor news from ASX companies of all sizes – all understandable in the current terrible investment climate as the combination of the coronavirus pandemic and the idiotic price war in oil between Russia and Saudi Arabia wreck market confidence and share price.
Read MoreDramatic Cuts At Qantas While Virgin, Rex Fight For Survival
More problems for our three listed carriers yesterday. Qantas and Jetstar have announced another round of cuts, REX Airways has gone into a trading halt while Standard & Poor’s has downgraded the rating of Virgin Australia’s debt to B-.
Read MoreQAN – Credit Suisse rates the stock as Neutral
Qantas has announced a -23% cut to international capacity and a -5% cut to domestic. Guidance has been withdrawn because of the unknowns surrounding coronavirus.
Read MoreQAN – Citi rates the stock as Neutral
Qantas will seek to reduce international capacity by -23% until September 2020, or at least until the operating environment is clearer. To ensure the balance sheet can withstand the challenges, the company is cancelling the $150m off-market buyback.
Read MoreQantas Slashes Capacity Amid “Sharp Drop” In Bookings
Qantas told the ASX before trading opened that it now planned to slash almost a quarter of its international capacity thanks to the slide in demand from the coronavirus outbreak.
Read MoreAir NZ Slashes More Flights, Qantas To Follow?
How long will it be before Qantas and Virgin Australia follow the second round of cost cuts and capacity reductions revealed by Air New Zealand yesterday?
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