Latest news with #QantasAirways
The Age
10 minutes ago
- Business
- The Age
Virgin Australia shares take off, rising 7.9 per cent in ASX return
Virgin Australia saw its shares lift off and rise 7.9 per cent as the airline returned to the Australian sharemarket after more than four years' absence, luring investors with new management and a more streamlined business plan. The nation's second-largest airline traded at $3.13 as of 12.20pm AEST on Tuesday, shortly after the stock resumed trading on the ASX at midday. Virgin has sold $685 million worth of stock to fund managers and retail investors in an initial public offering this month, floating about 30.2 per cent of its shares on issue to trade on the local sharemarket. Investors had paid $2.90 for the stock in the IPO, implying a market capitalisation of $2.3 billion for the Brisbane-based airline. Virgin is trading under the sharemarket ticker VGN. Demand from investors had outstripped the number of shares on offer in the IPO, according to Virgin CEO Dave Emerson - which explains the rise in the share price after the stock started trading on the market. 'We were very pleased with the demand, and we definitely can say that the offer was oversubscribed,' Emerson said before the trading debut. Loading An overall positive market would've also boosted the stock, with the S&P/ASX 200 up 0.9 per cent after US President Donald Trump's announcement of a ceasefire between Israel and Iran. Some Iranian figures have since disputed Trump's account of events. Shares of Virgin's bigger rival Qantas Airways were also up strongly, gaining 3.4 per cent at lunchtime. Virgin had been delisted from the ASX in 2020 amid mounting debts and losses. Having entered administration, it was bought by US-based Bain Capital, the private equity firm Emerson worked for before joining Virgin's management in 2021.
Sydney Morning Herald
11 minutes ago
- Business
- Sydney Morning Herald
Virgin Australia shares take off, rising 7.9 per cent in ASX return
Virgin Australia saw its shares lift off and rise 7.9 per cent as the airline returned to the Australian sharemarket after more than four years' absence, luring investors with new management and a more streamlined business plan. The nation's second-largest airline traded at $3.13 as of 12.20pm AEST on Tuesday, shortly after the stock resumed trading on the ASX at midday. Virgin has sold $685 million worth of stock to fund managers and retail investors in an initial public offering this month, floating about 30.2 per cent of its shares on issue to trade on the local sharemarket. Investors had paid $2.90 for the stock in the IPO, implying a market capitalisation of $2.3 billion for the Brisbane-based airline. Virgin is trading under the sharemarket ticker VGN. Demand from investors had outstripped the number of shares on offer in the IPO, according to Virgin CEO Dave Emerson - which explains the rise in the share price after the stock started trading on the market. 'We were very pleased with the demand, and we definitely can say that the offer was oversubscribed,' Emerson said before the trading debut. Loading An overall positive market would've also boosted the stock, with the S&P/ASX 200 up 0.9 per cent after US President Donald Trump's announcement of a ceasefire between Israel and Iran. Some Iranian figures have since disputed Trump's account of events. Shares of Virgin's bigger rival Qantas Airways were also up strongly, gaining 3.4 per cent at lunchtime. Virgin had been delisted from the ASX in 2020 amid mounting debts and losses. Having entered administration, it was bought by US-based Bain Capital, the private equity firm Emerson worked for before joining Virgin's management in 2021.
Time Out
a day ago
- Business
- Time Out
These four Australian airlines have been ranked among the world's best for 2025
If you're anything like me, picking flights comes down to a combination of affordability and dodging those with a sketchy track record. Some travellers are all about loyalty programs and racking up those sweet points, while others dive deep into the stats on legroom, punctuality and cleanliness. But if you really want to choose the best airline, you should turn to the opinions of actual customers. That's exactly how Skytrax determines the winners of its annual World Airline Awards, which have just been announced for 2025. Each year, they gather customer satisfaction insights from travellers in 100 countries, covering more than 350 different airlines. From this, they produce a prestigious global ranking of the world's best operators, along with regional top ten lists. So, Aussie frequent flyers – listen up. In 2025, Qantas Airways reclaimed its title as the best airline in the Australia-Pacific region, overtaking last year's winner, Fiji Airways. On the global stage, Qantas soared from 24th place in 2024 to be named the 14th best airline in the world for 2025. It also ranked first in the region across all cabin classes: best economy, premium economy (9th globally), business (13th globally) and first class (11th globally). To top it off, Qantas was named the cleanest airline in the region (18th globally), and earned accolades for best onboard catering and best cabin crew (19th globally). Virgin Australia is also flying high on the global charts, climbing from 43rd place last year to be named the 34th best airline in the world right now. It's Australia's second-highest-performing airline and ranks fourth across the Australia-Pacific region. But it really took off in the best regional airline category – snagging first place in Australia and coming second worldwide, just behind Bangkok Airways. Virgin Australia also ranked as the region's most family-friendly airline and had the highest-rated airline staff in the country. Australia's top budget airline, Jetstar, slipped slightly from 75th to 88th place globally. However, it held strong in the best low-cost airlines category, ranking 20th overall. Meanwhile, QantasLink – the regional brand of Qantas – propelled into the global top 100, landing in 97th place for 2025. You can check out the full global rankings here, or see a snapshot of our region below. These are the best airlines in the Australia-Pacific region for 2025 Qantas Airways (14th globally) Air New Zealand Fiji Airways Virgin Australia (34th globally) Jetstar Airways (88th globally) QantasLink (97th globally) Air Tahiti Nui Air Tahiti Air Niugini Aircalin Stay in the loop: sign up for our free Time Out Australia newsletter for more news, travel inspo and activity ideas, straight to your inbox. ✈️ 😱 A record-breaking flight is set to take off from Australia soon 🏯
Business Times
5 days ago
- Business
- Business Times
South-east Asia's budget airlines bet on travel demand, despite competition woes
[SEOUL] South-east Asia's biggest budget airlines are pursuing a bruising capacity expansion race despite rising cost pressures that are squeezing profitability and led Qantas Airways to shut down Singapore-based offshoot Jetstar Asia. Low-cost carriers have proliferated in Asia in the past two decades as disposable incomes rise, supported by robust travel demand from Chinese tourists. Demand for air travel in Asia is expected to grow faster than in other regions in the next few decades, and carriers such as Vietnam's VietJet Aviation and Malaysia-headquartered AirAsia are to buy more planes to add to their already large order books as they seek to gain market share. But margins are thinner than in other regions. The International Air Transport Association (Iata), an airline industry body, this year expects Asia-Pacific airlines to make a net profit margin of 1.9 per cent, compared with a global average of 3.7 per cent. Airlines across Asia have largely restored capacity since the pandemic, which has intensified competition, especially for price-sensitive budget travellers, and pulled airfares down from recent high levels. International airfares in Asia dropped 12 per cent in 2024 from 2023, ForwardKeys data shows. AirAsia, the region's largest budget carrier, reported a 9 per cent decline in average airfares in the first quarter as it added capacity and passed savings from lower fuel prices onto its customers. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Adding to challenges for airlines, costs such as labour and airport charges are also rising, while a shortage of new planes is driving up leasing and maintenance fees. This shifting landscape prompted Australia's Qantas to announce last week that its loss-making low-cost intra-Asia subsidiary Jetstar Asia would shut down by the end of July after two decades of operations. Jetstar Asia said it had seen 'really high cost increases' at its Singapore base, including double-digit rises in fuel, airport fees, ground handling and security charges. 'It is a very thin buffer, and with margins this low, any cost increase can impact an airline's viability,' said Iata Asia-Pacific vice-president Sheldon Hee, adding that operating costs were escalating in the region. Aviation data firm OAG in a February white paper, said that Asia-Pacific was the world's most competitive aviation market, with airfares driven down by rapid capacity expansion 'perhaps to a point where profits are compromised'. 'Balancing supply to demand and costs to revenue have never been more critical,' the report said of the region's airlines. 'Go big or go home' South-east Asia has an unusually high concentration of international budget flights. Around two-thirds of international seats within South-east Asia so far this year were on budget carriers, compared to about one-third of international seats globally, Capa Centre for Aviation data shows. Qantas took the option to move Jetstar Asia's aircraft to more cost-efficient operations in Australia and New Zealand rather than continue to lose money, analysts say. Budget operators in South-east Asia were struggling for profits amid fierce competition even before the pandemic and now there is the added factor of higher costs, said Asia-based independent aviation analyst Brendan Sobie. Low-cost carriers offer bargain fares by driving operating costs as low as possible. Large fleets of one aircraft type drive efficiencies of scale. Jetstar Asia was much smaller than local rivals, with only 13 aircraft. As at Mar 31, Singapore Airlines' budget offshoot Scoot had 53 planes, AirAsia had 225 and VietJet had 117, including its Thai arm. Low-cost Philippine carrier Cebu Pacific had 99. All four are adding more planes to their fleets this year and further into the future. VietJet on Tuesday (Jun 17) signed a provisional deal to buy up to another 150 single-aisle Airbus planes at the Paris Airshow, in a move it said was just the beginning as the airline pursues ambitious growth. The deal comes weeks after it ordered 20 A330neo wide-body planes, alongside an outstanding order for 200 Boeing 737 MAX jets. AirAsia, which has an existing orderbook of at least 350 planes, is also in talks to buy 50 to 70 long-range single-aisle jetliners, and 100 regional jets that could allow it to expand to more destinations, its CEO Tony Fernandes said on Wednesday. 'At the end of the day, it is go big or go home,' said Subhas Menon, director general of the Association of Asia-Pacific Airlines. REUTERS
Yahoo
6 days ago
- General
- Yahoo
Trainee Captain Reportedly Faints in Cockpit Moments After Landing Plane Full of Passengers
A Qantas trainee captain reportedly fainted moments after he landed a Boeing 737 passenger jet at Sydney Airport on June 10 The aircraft was still on the taxiway when the trainee captain told his first officer he didn't feel well and fainted Another captain on board took over and passengers were able to safely disembark the plane after it reached the gateA Qantas trainee captain reportedly fainted moments after landing a passenger jet in Sydney. The pilot had just touched the Boeing 737 down at Sydney Airport in Australia when the incident occurred on Tuesday, June 10 shortly before 7 p.m. local time, according to The Sydney Morning Herald. The flight, Qantas QF804, was coming from Canberra Airport. In the middle of taxiing, the trainee captain reportedly told his first officer that he didn't feel well before losing consciousness. There were 113 passengers, eight crew members and three total pilots on board. One of the three pilots then took over and was able to safely taxi the aircraft to the gate. Passengers disembarked the plane without any further issue while the pilot was treated by paramedics, according to the outlet. 'The safety and wellbeing of our passengers and crew is our priority and we're supporting the individual following the incident," a representative for Qantas tells PEOPLE. PEOPLE also reached out to the Australian Transport Safety Bureau for comment but did not receive an immediate response. Earlier in March, another Qantas pilot reportedly experienced a medical emergency mid-flight, prompting the plane to make an urgent landing in Sydney. The plane was reportedly traveling from Brisbane when its captain began experiencing chest pains, leading to a priority landing request at Sydney Airport, according to The Sydney Morning Herald. There were 127 passengers and six crew members on board at the time. After the captain began feeling the discomfort, he reportedly asked for a defibrillator to be used on him, however the equipment was not used in the end, according to the outlet. The first officer, who flew the aircraft while the captain was being attended to, alerted air traffic controllers of the emergency and requested an expedited landing of the Boeing 737-800. The outlet reports that he declared a "medical PAN" to air traffic control, which stands for 'possible assistance needed.' Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories. According to a spokesperson for Qantas said in a statement at the time: 'One of our pilots experienced chest pains during a flight from Brisbane to Sydney on Monday.' 'The other pilot was operating the aircraft at the time and landed the aircraft into Sydney as normal,' they added. 'The pilot was treated by paramedics at the gate and transferred to hospital.' Read the original article on People
