Macquarie Bank has updated earnings estimates for Qantas (QAN) and Virgin Australia (VAH) on the back of weak near-term demand adding to existing currency...

Livewire
Macquarie Bank has updated earnings estimates for Qantas (QAN) and Virgin Australia (VAH) on the back of weak near-term demand adding to existing currency woes. The updated earnings takes into account the risk that capacity growth lags weaker demand growth over the next 6 months. Corporate demand particularly in the resources sector is becoming a concern, with QAN more at risk given its higher corporate market share. Although an Outperform recommendation is maintained on both stocks, the broker notes downside risk near-term on further currency weakness.

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Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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