Qantas looks to add to $500m share buy-back

Qantas looks to add to $500m share buy-back

Qantas is looking to potentially return further capital to shareholders after concluding a $500 million share buyback.

Announced today, the Qantas Group has completed the $500 million on market share buy-back announced at its half year results in February 2016.

Qantas has purchased 143,599,336 shares for a weighted average price of $3.4819, since 9 March 2016.

Completed on 6 November 2015 was the combined $505 million capital return and associated share consolidation.

Since 30 June 2015, the number of ordinary shares on issue for Qantas Airways Limited has decreased by 12.6 percent.

The move is in line with its financial framework, with the Qantas Group returning over $1 billion in surplus capital to shareholders in the last 12 months.

The Board will make a decision on future capital management initiatives and announced with the Group’s full year results on 24 August 2016.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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