QANTAS to offer share buyback

Company News

by Rachael Jones

The Qantas Group (ASX:QAN) will hand over another buyback after reporting that total revenue for the third-quarter ended 31 March 2018 rose 7.5 per cent to A$4.25 billion from the same period last year.

Shares with a total consideration of $378 million will be acquired under the buy-back. 

The remaining consideration to be paid for shares under the buyback is $177, 265, 371. The number of shares bought back is over 32,510,682

The airline carrier also reported they will bid farewell to the 747s by the end of 2020.

The carrier will be moving to the 787 and 789- an aircraft that has much lower maintenance costs and is about 20 per cent more fuel-efficient than the 747.

Shares in Qantas Group (ASX:QAN) were down yesterday 1.60% to $6.17.


Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.