I think the volumes are so low because the top 4 shareholders have 86% of the stock tied up. As of August 2013 they are -
Sintack Pty Ltd and Parties 12.32%
Q H Tours Ltd and its associated entities 28.94%
UBS Australia Holdings Limited 17.91%
Europe Voyager NV 26.84%
These figures haven't changed since the merger with Stella in 2010 except for Sintack reducing it's holding by a little over 1 million shares (down from 12.6%).
There needs to be some movement, maybe Qantas Holidays?
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