AUSTRALIA – Researchers at Deutsche Bank are keeping a buy rating on Australian Stock Exchange-listed Qantas Airways Limited (ASX:QAN), sending the shares of the airline trading higher on Tuesday’s session.
The buy rating on Qantas Airways Limited (ASX:QAN) was based signs that demand may be picking up for Australian airfares as seen by Deutsche Bank.
The broker’s analysis of forward bookings of Australian airfares indicates steady price increases in the domestic market into the first quarter of 2016 as well as the second quarter, when compared with a year earlier.
Shares of Qantas Airways Limited (ASX:QAN) were up 3.49 percent in the morning session on Tuesday, gaining AU$0.12 from its previous close to trade at AU$3.70 a piece.
Qantas Airways Limited (ASX:QAN)’s stock opened at AU$3.62 and traded within the range of AU$3.62-AU$3.76 on Tuesday.
About 7.4 million shares were exchanging hands in the morning session.
Qantas Airways Limited (PSE:QAN) is an Australia-based company engaged in the operation of international and domestic air transportation services, the provision of freight services and the operation of a frequent flyer loyalty program.
The Company operates through segments, including Qantas Domestic, Qantas International, Qantas Freight, Jetstar Group, Qantas Loyalty and Corporate.
The Qantas Domestic segment includes the Australian domestic passenger flying business of the Company.
Qantas International is the international passenger flying business of the Company. The Qantas Freight segment includes the air cargo and express freight business of the Company. The Jetstar Group segment includes the Jetstar passenger flying business.
The Qantas Loyalty segment includes the Qantas customer loyalty program, Qantas Frequent Flyer, as well as other marketing services, loyalty and recognition programs. The Corporate segment includes the centralized management and governance of the Company. – BusinessNewsAsia.com