Travel agencies plummet while cruise lines soar – Market Check
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Happy Friday! Or should we say ‘Happy Fri-yay!’
It’s the glorious time of the week where we look at the stocks! Apologies for missing last week, but we’ll touch on all the past fortnight’s ongoings in today’s analysis alongside the past week.
Qantas fell about one and a half per cent over the past week, but this was nothing compared to the staggering drop the National Carrier experienced in the week prior. Since Tuesday last week, Qantas has fallen by a total of 10.31 per cent as the airline announced a new chairman and saw a 13 per cent profit drop in its half-year reports. Rex also had a tough week, dropping by over four per cent and posting a loss for 1H24.
Agency-side it was quite a rough week. Helloworld fared the worst of it with a whopping fall of 7.36 per cent, despite a strong profit posting last week. Though compared with the start of last week, the agency is up 6.13 per cent and reached a peak of $2.96 last Thursday.
Flight Centre and Corporate Travel Management fell by less than half a per cent and a whole per cent respectively, while Webjet’s performance was similar to that of Helloworld’s; dropping by more than four per cent after a steady seven days the week prior.
Defying expectations on multiple fronts, Star Entertainment Group soared this past week, posting a $9m profit and seeing its share price rise over 18 per cent. Star’s rise comes amid the revelation that its Sydney casino will be investigated once again by a regulator after a 900 page report was given in 2022 that revealed its anti-money laundering and counter-terrorism failings. The regulator felt the the casino has not demonstrated its ability to regain its casino license in the 18 months since the original report was handed down.
Across the Tasman, Air New Zealand didn’t see any overall movement, while Auckland International Airport fell by 1.31 per cent.
Over in the States everything was flying high (especially the cruise ships).
Boeing and American Airlines jumped 1.29 and 3.36 per cent respectively as the manufacturer stabilises after a rough start to the year and airline continues its ascent.
Norwegian Cruise Lines is the big winner in this list, seeing its share price jump over 20 per cent. Strong demand for Caribbean cruises has driven the company’s share price, despite it cancelling Red Sea itineraries amid the ongoing Israel-Hamas war.
NCL’s cruising counterparts, Carnival and Royal Caribbean, also saw share price increases, with Carnival rising over 4 per cent and Royal Caribbean jumping nearly one and a half per cent.
And, of course, Hilton posted a nice little increase, rising 1.09 per cent.
Company | Opening price | Closing price | Change (%) |
Qantas Airways Ltd (ASX: QAN) | $5.21 | $5.13 | – 1.54 |
Flight Centre Travel Group (ASX: FLT) | $21.50 | $21.41 | – 0.42 |
Helloworld Travel Ltd (ASX: HLO) | $2.99 | $2.77 | – 7.36 |
Webjet Ltd (ASX: WEB) | $7.27 | $6.96 | – 4.26 |
Corporate Travel Management Ltd (ASX: CTD) | $16.00 | $15.86 | – 0.88 |
Star Entertainment Group Ltd (ASX: SGR) | $0.44 | $0.52 | + 18.18 |
Regional Express Holdings Ltd (ASX: REX) | $0.90 | $0.86 | – 4.44 |
Air New Zealand Ltd (ASX: AIZ) | $0.58 | $0.58 | 0.00 |
Auckland International Airport Ltd (ASX: AIA) | $7.66 | $7.56 | – 1.31 |
American Airlines Group Inc (NASDAQ: AAL) (USD) | $15.17 | $15.68 | + 3.36 |
Boeing Co (NYSE: BA) (USD) | $201.12 | $203.72 | + 1.29 |
Carnival PLC (NYSE: CUK) (USD) | $13.80 | $14.40 | + 4.35 |
Hilton Hotels Corporation Common Stock (NYSE: HLT) (USD) | $202.11 | $204.32 | + 1.09 |
Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) (USD) | $16.13 | $19.39 | + 20.21 |
Royal Caribbean Cruises Ltd (NYSE: RCL) (USD) | $121.54 | $123.35 | + 1.49 |
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