Qantas Shares Are Blitzing The Market

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Qantas shares are on a tear, jumping more than 6% today.

The airline is a standout in a flat market today, following a more than 5% rise on Monday.

Analysts have been increasing earnings forecasts and marking the stock as a buy after the airline said it was on track for a profit this half year.

Investors rewarded Qantas’s announcement at its AGM that the airline had posted a profit for the first time in years during the first quarter of the financial year.

Qantas still isn’t paying dividends and is in the middle of a $2 billion cost saving program which will see 5,000 jobs lost but investors like the news of a return to profit.

The share price has jumped almost 25% in two weeks to almost $1.60 today.

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