why isnt it at 5.60 atm, page-16

qantas and the dah factor.. if you owned qantas, you would have sold most if not all your holding. Can't see another bid and your money is best used somewhere else with much less risk.. This bid has come with fuel prices over $60. This suggests the buyers think the oil price has peaked. The fuel price is a major part of costs. Some guys would have swapped into virgin for a number of reasons. I think the management of qantas have been using the high fuel prices to drive savings and out sourcing etc. This bid was always coming once the house was cleaned out of unions etc imo. the bid has been priced to suceed and mac bank already owns a lot of airports around the world. this suggests to me that sweetheart deals and access to these airports maybe the ticket for growth here in the long run.