Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Australian domestic airline demand strong but fuel prices a concern, bosses say

by
June 20, 2022
in Investing News
0
Australian domestic airline demand strong but fuel prices a concern, bosses say
0
SHARES
17
VIEWS
Share on FacebookShare on Twitter

DOHA – Qantas Airways QAN.AX and Virgin Australia have not seen any dent in domestic bookings from higher inflation and interest rates, but fares must rise to help them recover some of the cost of elevated oil prices, their chief executives said on Sunday.

Australia’s two biggest airlines are operating domestic capacity above pre-pandemic levels as demand rebounds, but Qantas has trimmed some flights for July and August to try to boost fares and could take more action, its chief executive said on the sidelines of an industry conference in Doha.

“We are seeing really strong demand internationally across the board and that is helping us recover oil prices in the international market,” Qantas Chief Executive Alan Joyce told reporters. “In domestic, we may need a little less capacity in the market to get that recovery and we are working through that at the moment.”

Virgin Australia Chief Executive Jayne Hrdlicka said her airline had put through two fare increases, but was warier of cutting capacity before it reached its target of 33% domestic market share, especially when demand was strong.

“Most months we’re 33% revenue share, but not quite 33% capacity share,” she told Reuters in an interview. “We’ll be carefully balancing a combination of capacity management and price increases.”

Virgin Australia was bought by U.S. private equity firm Bain Capital in 2020 and is no longer listed publicly.

Hrdlicka said it had returned to a profit in April and an IPO was likely as early as 2023, but the timing would depend on market conditions.

“Equity markets, as you know, are not in a great place at the moment,” she said. “So it will just depend on when there’s a good opportunity from a market standpoint.” – Reuters

ShareTweetPin

Related Posts

Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case
Investing News

Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case

August 23, 2022
ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts
Investing News

ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts

August 23, 2022
Malaysian trade official urges PHL to sign up for RCEP  
Investing News

Malaysian trade official urges PHL to sign up for RCEP  

August 23, 2022
Next Post
BusinessWorld Roundtable: “The View from the Starting Line”

BusinessWorld Roundtable: “The View from the Starting Line”

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Treasury confirms commitment to NFT despite crypto winter

Treasury confirms commitment to NFT despite crypto winter

July 18, 2022
Farm industry calls for more imports of raw materials for animal feed

Farm industry calls for more imports of raw materials for animal feed

July 10, 2022
Electronics industry says RCEP needed to ensure competitiveness

Electronics industry says RCEP needed to ensure competitiveness

July 25, 2022
Questions on sports ethics

Questions on sports ethics

June 22, 2022
Gilas Pilipinas shifts focus with must-win matchup with India

Gilas Pilipinas shifts focus with must-win matchup with India

July 14, 2022
High energy bills will hit motor trade, says SMMT

High energy bills will hit motor trade, says SMMT

June 29, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.