Can the Qantas share price maintain this lofty altitude?
Image source: Getty Images
The Qantas Airways Ltd (ASX: QAN) share price closed up 1.59% yesterday.
Shares in the S&P/ASX 200 Index (ASX: XJO) airline finished off Monday trading for $7.03 apiece. That’s up more than 31% so far in 2024.
Following that sharp rally, you’d now have to go back to January 2020, shortly before the onset of the global pandemic, to find the Qantas share price trading at a higher level.
But can shares in the flying kangaroo maintain this lofty altitude?
Has the Qantas share price flown too close to the sun?
In the 2024 financial year (FY 2024), Qantas reported a 10.7% increase in revenue to $21.9 billion, while underlying profit before tax declined by 16% year on year to $2.08 billion.
Those results were…
