QAN slipped over 2.3% yesterday following the news that the flagship airline has cut almost 1/3 of its flights this quarter due to the Omicron strain creating lower demand– no great surprise as Virgin Australia did the same earlier in the week. Similar to our view elsewhere we believe this is another speedbump in the economic recovery which is demonstrated by strong demand already emerging for flights over the Easter holidays i.e. people are still keen to travel asap.
MM is bullish QAN under $5
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