Close sidebar

Share rises hint at industry optimism as COVID-19 flattens

written by Adam Thorn | April 9, 2020

Shares across the national aviation industry have rallied as hopes grow that Australia may have overcome the worst of the coronavirus crisis.

  • Qantas is now trading at $3.52, a significant increase from when shares nearly fell below $2 three weeks ago;
  • Sydney Airport can be purchased for $5.68, up from a recent low of $4.37 and despite a dramatic drop in flights;
  • And finally, on Tuesday, 31 March, shares in Virgin sold for 10c – twice its recent price – as speculation mounted the airline was pushing for a bailout.

The positive news comes as the government has spoken openly this week about how Australia is flattening the coronavirus curve and Prime Minister Scott Morrison admitted the country is making quicker progress than expected.

Advertisement
Advertisement

Earlier this week, NSW Premier Gladys Berejiklian hinted coronavirus restrictions would be reviewed monthly, raising hopes the current “lockdown” could end sooner than originally expected.

The positive news for the industry comes despite its major players facing difficulties of their own.

Qantas has recently revealed that that 11 of its crew members who worked on a flight from Chile to Sydney, but didn’t undertake two-week hotel quarantine after returning home, subsequently tested positive for coronavirus.

PROMOTED CONTENT

Altogether, 50 Qantas Group staff have now been diagnosed with COVID-19, including 11 Adelaide Airport baggage handlers.

Meanwhile, the government has played down hopes Virgin Australia could be in line for a bailout, with Scott Morrison saying financial aid would only happen on a “sector-wide basis”.

The proposals would apparently see the government able to convert the package into ownership if it is not repaid in the next two to three years. The Sydney Morning Herald said a formal request was made last week, which also called for a broader $5 billion bailout for the industry.

Steer your own in-flight experience – available on print and digital Whether our classic glossy magazine in your letterbox, daily news updates in your inbox, peeling back a few layers in the podcast or our monthly current affair reports, you can count on us to keep you up to date. Sign up today for just $99.95 for more exclusive offers here. Subscribe now at australianaviation.com.au.

Leave a Comment

Your email address will not be published. Required fields are marked *

Share rises hint at industry optimism as COVID-19 flattens

written by Adam Thorn | April 9, 2020

Shares across the national aviation industry have rallied as hopes grow that Australia may have overcome the worst of the coronavirus crisis.

  • Qantas is now trading at $3.52, a significant increase from when shares nearly fell below $2 three weeks ago;
  • Sydney Airport can be purchased for $5.68, up from a recent low of $4.37 and despite a dramatic drop in flights;
  • And finally, on Tuesday, 31 March, shares in Virgin sold for 10c – twice its recent price – as speculation mounted the airline was pushing for a bailout.

The positive news comes as the government has spoken openly this week about how Australia is flattening the coronavirus curve and Prime Minister Scott Morrison admitted the country is making quicker progress than expected.

Advertisement
Advertisement

Earlier this week, NSW Premier Gladys Berejiklian hinted coronavirus restrictions would be reviewed monthly, raising hopes the current “lockdown” could end sooner than originally expected.

The positive news for the industry comes despite its major players facing difficulties of their own.

Qantas has recently revealed that that 11 of its crew members who worked on a flight from Chile to Sydney, but didn’t undertake two-week hotel quarantine after returning home, subsequently tested positive for coronavirus.

PROMOTED CONTENT

Altogether, 50 Qantas Group staff have now been diagnosed with COVID-19, including 11 Adelaide Airport baggage handlers.

Meanwhile, the government has played down hopes Virgin Australia could be in line for a bailout, with Scott Morrison saying financial aid would only happen on a “sector-wide basis”.

The proposals would apparently see the government able to convert the package into ownership if it is not repaid in the next two to three years. The Sydney Morning Herald said a formal request was made last week, which also called for a broader $5 billion bailout for the industry.

Steer your own in-flight experience – available on print and digital Whether our classic glossy magazine in your letterbox, daily news updates in your inbox, peeling back a few layers in the podcast or our monthly current affair reports, you can count on us to keep you up to date. Sign up today for just $99.95 for more exclusive offers here. Subscribe now at australianaviation.com.au.

Leave a Comment

Your email address will not be published. Required fields are marked *

Share rises hint at industry optimism as COVID-19 flattens

written by Adam Thorn | April 9, 2020

Shares across the national aviation industry have rallied as hopes grow that Australia may have overcome the worst of the coronavirus crisis.

  • Qantas is now trading at $3.52, a significant increase from when shares nearly fell below $2 three weeks ago;
  • Sydney Airport can be purchased for $5.68, up from a recent low of $4.37 and despite a dramatic drop in flights;
  • And finally, on Tuesday, 31 March, shares in Virgin sold for 10c – twice its recent price – as speculation mounted the airline was pushing for a bailout.

The positive news comes as the government has spoken openly this week about how Australia is flattening the coronavirus curve and Prime Minister Scott Morrison admitted the country is making quicker progress than expected.

Advertisement
Advertisement

Earlier this week, NSW Premier Gladys Berejiklian hinted coronavirus restrictions would be reviewed monthly, raising hopes the current “lockdown” could end sooner than originally expected.

The positive news for the industry comes despite its major players facing difficulties of their own.

Qantas has recently revealed that that 11 of its crew members who worked on a flight from Chile to Sydney, but didn’t undertake two-week hotel quarantine after returning home, subsequently tested positive for coronavirus.

PROMOTED CONTENT

Altogether, 50 Qantas Group staff have now been diagnosed with COVID-19, including 11 Adelaide Airport baggage handlers.

Meanwhile, the government has played down hopes Virgin Australia could be in line for a bailout, with Scott Morrison saying financial aid would only happen on a “sector-wide basis”.

The proposals would apparently see the government able to convert the package into ownership if it is not repaid in the next two to three years. The Sydney Morning Herald said a formal request was made last week, which also called for a broader $5 billion bailout for the industry.

Steer your own in-flight experience – available on print and digital Whether our classic glossy magazine in your letterbox, daily news updates in your inbox, peeling back a few layers in the podcast or our monthly current affair reports, you can count on us to keep you up to date. Sign up today for just $99.95 for more exclusive offers here. Subscribe now at australianaviation.com.au.

Leave a Comment

Your email address will not be published. Required fields are marked *

Each day, our subscribers are more informed with the right information.

SIGN UP to the Australian Aviation magazine for high-quality news and features for just $99.95 per year