Qantas had a good day today, up more than 4% to $1.33 at 3:08 PM.
Rival Virgin Australia was up 1.1% or 45 cents at the same time. The market was up 1.72%.
Media reports today said Qantas had hired consultants to review its senior executives, and yesterday Virgin finalised a deal with Tigerair which saw it take a 60% stake in the budget carrier, but those things don’t appear to be having a material impact on Qantas’ price.
“It’s [Qantas] up but you have to keep it in the context of where its come from,” Deutsche Bank analyst Cameron McDonald told Business Insider this afternoon.
In mid-April this year Qantas was worth $1.90.
He said reports of consultants and the Tigerair deal were probably not the reason the price was up.
“Airlines can be reasonably volatile.”
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