Streetbeat News

QABSY

Qantas Airways Ltd

https://www.qantas.com

CEO

Alan Joyce

Industry

Scheduled Passenger Air Transportation

Open

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Mkt cap

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Volume

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High

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P/E Ratio

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52-wk high

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Low

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52-wk low

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JPMorgan Chase CEO Jamie Dimon recently sold 1 million shares of the company, sparking speculation about his retirement. Wells Fargo analyst Mike Mayo predicts Dimon will retire in about three and a half years. If Dimon stays until 2026, he has a board-approved bonus of 1.5 million options waiting for him, contingent on the stock price reaching $149. Dimon has never sold shares of JPMorgan before, and CEOs often sell stock ahead of retirement. Potential successors include several JPMorgan executives.

Portfolio Pulse from Anthony Noto

October 28, 2023 | 1:58 pm

Several companies are in the news for various reasons. Alphabet and Discord are facing ethical concerns over Google's AI chatbot, Bard. MGM Resorts snubbed hackers' ransom demands after a cyberattack. Costco is accused of sharing confidential health data with Meta Platforms. Humana has appointed a new CEO. Novo Nordisk has stopped a kidney trial due to early signs of efficacy. Walgreens has appointed a new CEO. GSK has settled a lawsuit. LVMH reported a 9% organic revenue growth in Q3. Qantas Airways is overhauling its board. Tempest Therapeutics' stock soared after positive results from a clinical trial. Tech giants Baidu, Huawei, and Alibaba are setting standards for autonomous driving in China. Blackstone is in talks to acquire a stake in Disney's Indian subsidiary. Mallinckrodt's bankruptcy plan was approved. Birkenstock has priced its IPO.

Portfolio Pulse from Vandana Singh

October 11, 2023 | 1:36 pm

Qantas Airways Ltd (OTC:QABSY) is undergoing a significant board overhaul, with Chairman Richard Goyder set to retire before the AGM in late 2024. Non-executive director Michael L'Estrange is also stepping down at this year's AGM, and board members Jacqueline Hey and Maxine Brenner are scheduled to retire in February 2024. This is part of a broader strategy to refresh the board's composition and perspective, aiming to address reputational challenges and rebuild trust within the company and its stakeholders.

Portfolio Pulse from Akanksha Bakshi

October 11, 2023 | 12:52 pm

Qantas Airways Ltd.'s Chairman Richard Goyder is facing calls for his resignation from the Australian and International Pilots Association (AIPA) due to low morale. The company was recently in the headlines after former CEO Alan Joyce saw a significant increase in his pay. Goyder, who has served as the airline's chairman since 2018, will not stand for re-election at the upcoming annual meeting. The company plans to allocate additional funds for addressing customer issues but warns of possible fare increases due to escalating fuel costs.

Portfolio Pulse from Nabaparna Bhattacharya

September 26, 2023 | 6:23 pm

Former Qantas Airways CEO, Alan Joyce, saw his pay rise by 872% in FY23 due to cashing in long-term incentives upon retirement. However, due to ongoing lawsuits, the company decided to reduce and withhold substantial bonuses. The company managed to retrieve A$8.4 million in share-based bonuses that Joyce had acquired during the year but was not permitted to sell at the moment. There is also a possibility of reclaiming unvested stock bonuses for Joyce, currently valued at A$6 million.

Portfolio Pulse from Akanksha Bakshi

September 20, 2023 | 11:42 am

The High Court of Australia ruled that Qantas Airways Ltd (OTC:QABSY) violated the law when it terminated the employment of 1,700 ground staff members and replaced them with contracted workers during the COVID-19 pandemic. The court stated that Qantas violated industrial law as it undermined the unionized employees' rights to engage in industrial action and collectively bargain. The ruling follows public outrage against the airline, leading to its CEO's early retirement after an antitrust lawsuit accused the airline of selling tickets for canceled flights.

Portfolio Pulse from Akanksha Bakshi

September 13, 2023 | 12:02 pm

Qantas has doubled its Boeing 787 Dreamliner fleet by ordering four 787-9 and eight 787-10 airplanes. This could potentially boost Boeing's revenues and stock price.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 4:47 am

Boeing Co is expected to secure a deal for more of its 787 Dreamliner aircraft from Qantas Airways Ltd in Australia. The order, which is expected to be announced this month, will be the first order of the 787-10 model for Qantas. The deal is still subject to airline board approval. Qantas last placed a Dreamliner order in 2018 and in 2022, it ordered a dozen A350-1000s.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 10:25 am

Boeing is reportedly close to securing an order for more of its 787 Dreamliner aircraft from Australia’s Qantas Airways. The order for an unspecified number of 787-10s could be announced as early as this month. This would be Qantas's first order of the 787-10 model, a stretched version of the 787-9 with shorter range that is designed to compete against the Airbus A330. The deal is not final until it has won airline board approval.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 10:48 pm

Airbus confirms an order for 500 A320 Family aircraft from Indian airline IndiGo, marking the largest single purchase deal in commercial aviation history. Airbus also finalized orders with Air Mauritius, Saudi Arabia's flynas, Philippine Airlines, and Australia's Qantas Airways.

Portfolio Pulse from Akanksha Bakshi

June 20, 2023 | 10:50 am

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