Macquarie analysts are positive on the outlook for Qantas (ASX: QAN), saying the risks are now skewed to the upside

Macquarie analysts are positive on the outlook for Qantas (ASX: QAN), saying the risks are now skewed to the upside. QAN's update today was positive for 2 reasons: 1) the cost-saves appear to be progressing well. and 2) domestic and int'l capacity growth is moderating. On costs: QAN has detailed key projects for the $2b cost saving and also provided an FY15 target of $800m, which in our view should see consensus move up. On revenue, domestic and international capacity growth is moderating, which should support yield growth and at a minimum be positive for sentiment.