- Mar 22, 2005
Buying QF shares? Now is the time!
theAustralina.news.com.au said:Fuel drain takes $2bn off Qantas
May 26, 2006
Rising demand for aviation fuel combined with limited capacity in Asia has prompted an investor backlash against airline shares and wiped billions from the value of Qantas, n what has become one of the worst performing sectors of the Australian equities market.
Shares in the national carrier have dived with its stock-price chart resembling the descent of one of its jumbo jets into Kingsford-Smith airport in Sydney.
The sell-off in the past 15 weeks has wiped more than $2 billion from its market capitalisation, returning the price to about where it was before the record bull run began in March 2003.
Rising oil prices are also seen as the biggest cause of the sell-off, which started after the stock hit a 12-month high of $4.29 in February.