Qantas Airways Limited’s
(ASX:QAN) biggest shareholder has lowered its interest in the company in the same week the company’s stock hit a four-year high.
US investment giant Franklin Resources has cut its stake in Australia’s largest airline to 14.22 per cent from 15.4 per cent.
In April 2014 Franklin Resources took advantage of Qantas’ stumbling stock price and boosted its stake up to 18.66 per cent.
Qantas was one of the best performing stocks on Australia’s benchmark index in 2014 with its share price growing almost 120 per cent.
Qantas Airways reported a net loss of $2.84 billion in the full 2014 financial year.
