The Qantas Airways Limited (ASX: QAN) share price is up 2.45% in early trade this morning after analysts at Goldman Sachs raised their rating on the airline to buy. The Virgin Australia Holdings Ltd (ASX: VAH) share price is also up 1.1% after Goldman raised it to neutral.
Qantas Airways is Australia's largest domestic airline with roughly 60% market share via its dual brand strategy (Qantas also owns Jetstar airways). Domestically, it effectively operates in a competitive duopoly with Virgin Australia which also owns Tiger airways. Internationally, Qantas has entered into partnerships with airlines such as Emirates to make it more competitive.
The Qantas share price is already up 92% this year and investors will hope that bull run goes on. If oil prices stay lower for longer combined with Qantas' planned route expansion (the airline plans on launching a direct Perth to London flight), this could propel the airline's share price going forward.
