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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Qantas Airways Limited    QAN   AU000000QAN2

QANTAS AIRWAYS LIMITED

(QAN)
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Qantas Airways : offers fast-track to higher status to lure corporate travellers

11/25/2020 | 05:10pm EST

SYDNEY, Nov 26 (Reuters) - Qantas Airways Ltd said on Thursday it will offer top-tier members of rival frequent flyer programmes a fast-track to higher status as its main domestic rival, Virgin Australia, pursues a less premium strategy under its new owner.

The move could help boost Qantas' market share in lucrative corporate and high-end leisure travel as domestic flights ramp up in Australia due to the reopening of state borders.

"With so much uncertainty in the market, we've seen a spike in requests from people wanting us to match their status with other airlines," Qantas Loyalty CEO Olivia Wirth said in a statement. "If they are willing to bring their travel across to Qantas, we will fast track them to Gold status."

Qantas Gold status includes access to its large network of airport lounges, priority check-in and boarding and preferential seating.

By early December, Qantas expects 30 of its 35 domestic airport lounges will be open, whereas Virgin last week said it would maintain only six domestic lounges as part of its shift to becoming a more value-focused mid-market airline.

Qantas also includes free Wi-Fi on its domestic flights, while Virgin is reviewing the future of its Wi-Fi offering, which had previously been complimentary.

Qantas is flying just under 40% of its pre-pandemic domestic capacity now that state border openings have allowed it to ramp up Sydney-Melbourne flights.

It expects that to rise to around 60% of pre-pandemic levels by Christmas as Queensland opens its borders further, which could allow the airline to report positive net cash flow in the second half of its financial year ending June 30, 2021. (Reporting by Jamie Freed; editing by Richard Pullin)


© Reuters 2020
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Financials
Sales 2021 6 208 M 4 826 M 4 826 M
Net income 2021 -1 051 M -817 M -817 M
Net Debt 2021 5 136 M 3 993 M 3 993 M
P/E ratio 2021 -7,68x
Yield 2021 -
Capitalization 9 046 M 7 000 M 7 032 M
EV / Sales 2021 2,28x
EV / Sales 2022 0,99x
Nbr of Employees 20 000
Free-Float 99,4%
Chart QANTAS AIRWAYS LIMITED
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Qantas Airways Limited Technical Analysis Chart | QAN | AU000000QAN2 | MarketScreener
Technical analysis trends QANTAS AIRWAYS LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 5,33 AUD
Last Close Price 4,82 AUD
Spread / Highest target 46,3%
Spread / Average Target 10,6%
Spread / Lowest Target -37,8%
EPS Revisions
Managers and Directors
NameTitle
Alan Joseph Joyce CEO, Executive Director & Managing Director
Richard J. B. Goyder Chairman
Vanessa Hudson Chief Financial Officer
Robert Marcolina Group Executive-Strategy, People & Technology
Barbara Kay Ward Independent Non-Executive Director
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