Qantas Performing Well in the International Market Although Domestic Demand is Subdued
Our AUD 5.00 per share fair value estimate for no-moat-rated Qantas is unchanged following its third quarter update. The shares currently trade at a slight premium to our valuation. The company reported fiscal 2019 third quarter revenue of AUD 4.4 billion, a 2.3% increase on the previous corresponding period, despite the shift in the timing of Easter which fell in the fourth quarter of fiscal 2019. Unit revenue increased by 4%, and the firm remains on track to offset higher fuel costs. After nor...Qantas Airways is 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. Co. comprises following operating segments: Qantas Domestic, Qantas International, and Jetstar Group, all of which comprises its passenger flying businesses; Qantas Freight, which comprises its air cargo and express freight business; and Qantas Loyalty, which comprises its customer loyalty recognition programs.
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