It's been a good week for the Qantas (ASX:QAN) share price

Shares in Australia's flag carrier have shot higher on Tuesday

| More on:
asx share price rise represented by red paper plane flying away from other white paper planes

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Qantas Airways Limited (ASX: QAN) share price has been on fire this week. Shares in Australia's flag carrier are up 8.9% since Monday's open in good news for shareholders.

Why it's been a good week for the Qantas share price

Shares in the Aussie airline have climbed 5.2% higher in the last 5 days. That's despite no new ASX announcements from Qantas since 3 August.

However, the gains have coincided with Qantas' incentive scheme to get more Australians vaccinated. The Qantas share price edged lower on Monday but has since rocketed higher.

Qantas will be giving inoculated Australians 1,000 Qantas points, 15 status credits or a $20 flight voucher. There will also be 10 "mega prizes" on offer for eligible persons.

Qantas is due to release its FY21 earnings on Thursday in a hotly anticipated release.

Investors interested in the travel sector would be bracing themselves after Sydney Airport Holdings Pty Ltd (ASX: SYD)'s results last Friday.

Australia's busiest airport reported an 81.7% increase in net losses after tax to $97.4 million with revenue down 31.3% to $351 million.

COVID-19 restrictions have presented "challenging" conditions with traffic numbers remaining subdued.

While Sydney Airport shares haven't climbed in the days since, the Qantas share price has been on fire.

Alongside Thursday's earnings result, Qantas investors may also be eyeing easing restrictions in New South Wales and around the country.

Optimism appears to be growing around easing border restrictions once the 70 to 80 per cent vaccination target is reached.

Foolish takeaway

The Qantas share price has shot 5.8% higher on Tuesday and is one to watch throughout the rest of the week.

With no new announcements and Qantas' earnings expected on Thursday, there's a fair bit happening for the Aussie airline. There is also building optimism around vaccination levels and the easing of COVID-19 restrictions later in the year

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Man pointing at a blue rising share price graph.
Share Gainers

3 ASX All Ords shares rocketing over 10% today

Double-digit gains anyone?

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Aussie Broadband, Harvey Norman, HMC, and Web Travel shares are racing higher today

These shares are having a good time on hump day. But why?

Read more »

Three women cruise along enjoying ice-creams in the sunshine.
Best Shares

3 ASX 300 stocks up by more than 300% in a year

These stocks certainly add up to a triple treat.

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors were pulled back down to earth this Tuesday.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why EML Payments, Gentrack, Regis, and Resimac shares are racing higher

These shares are outperforming on Tuesday. What's going on?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors kicked off the trading week in style today.

Read more »

Person pointing at an increasing blue graph which represents a rising share price.
Share Gainers

Why Liberty, Lovisa, Novonix, and SG Fleet shares are storming higher today

These shares are starting the week strongly. But why? Let's find out.

Read more »

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »