Company News: Qantas, Bank of Queensland & Transurban

Company News

by Melissa Darmawan

Qantas (ASX:QAN) has upgraded its estimate of domestic capacity to beyond 90 per cent of its pre-pandemic aviation activity for the June Quarter of financial year 2021. Australia’s flag carrier is betting on the lifting of travel restrictions and reduced border closures across the country. Qantas plans to deploy 90 per cent of the group’s fleet back into action. The airline has ramped up services between Australian cities by 34 new routes since the beginning of FY21, with Qantas flights constituting 70 per cent of total civil aviation services within Australia. Shares are trading 0.2 per cent up at $5.22.

Bank of Queensland (ASX:BOQ) has announced the company will restore its usual dividend payment on May 26 this year. Shareholders will receive an interim dividend of 17 cents per share. The decision came in the wake of an increase in first-half profits by 9 per cent. The company brought in $165 million in profits through strong performance levels in retail banking operations. Share are trading at 0.2 per cent at $8.92.

Transurban (ASX:TCL) reports a rise in the average daily traffic of 1.1 per cent compared to last year for the March quarter. Though when compared to 2019, it is down 3.8 per cent. The company said traffic has recovered to pre covid-19 levels where restrictions have lifted. Shares are trading at 0.2 per lower at $13.79.

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