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Article: Brokers say Virgin Blue overpriced.(Virgin Blue Airlines)(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- April 5, 2005
- Author:
CopyrightCOPYRIGHT 2005 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apr 05, 2005 (The Sydney Morning Herald - ABIX via COMTEX)
The surging price of oil on global markets has hit the share prices of Australian airlines. In early April 2005, the share prices of both Qantas and Virgin Blue have fallen, as the price of oil has skyrocketed. Many brokers are now quite negative about Virgin Blue, because the airline is "totally unhedged" against the rise in fuel prices. Something else has also hit the share price of Qantas. The British entrepreneur, Sir Richard Branson, has indicated that he will set up an Australian international airline within nine months. Sir Richard plans to own 49% of this carrier, which will compete directly with ...