Check out Qantas most recent update - QANTAS GROUP MARKET UPDATE – OCTOBER 2024
"The Group continues to see first half trading in line with expectations. Both Qantas and Jetstar are seeing stable demand in their respective segments across the portfolio. Jetstar Domestic’s unit revenue is outperforming previous expectations due to stronger than anticipated travel demand. Qantas Domestic’s load factors and demand for corporate travel continue to improve year on year."
The recent stellar performance in sp is likely a combination of increased market share from the collapse of Rex Airlines, buyback program and the mentioned above.
This may be a pretty strong indication that the recent sell off for Webjet, FLT and HelloWorld is a massive over reaction (also fuelled by short positions and hedges). But this wont be completely realised until the next half yearly results release.
So if you can stomach the risk, this may be the time for a buy, as it will get priced in, if the above results by Qantas are any indication.
WEB Price at posting:
$4.02 Sentiment: None Disclosure: Not Held
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