Aussie travel stocks set to end H1 higher on robust demand, better air fares - analysts

Web Travel

30/06/2023 01:00

** Australian travel stocks are set to finish first half of
2023 higher, compared to a mixed performance a year ago
    ** "Travel is in a sweet spot of robust demand and limited
supply, which will continue to benefit the sector for the rest
of this year," said Josh Gilbert, a market analyst at eToro 
    ** Flagship carrier Qantas Airways  QAN.AX  on track to gain
3% in H1, benefiting from high air fares globally as travel
rebounds faster than expected on strong post-COVID recovery in
tourism 
    ** QAN shares rose for two straight half years, after losing
10.8% in H1 2022 
    ** "Qantas share price has captured most of the upside from
the re-opening in recent months," said Tony Sycamore, a market
analyst at IG Australia, adding that headwinds from a slowing
economy, among other factors, expected to impact bottom line
    ** Travel-distribution firm Helloworld Travel  HLO.AX  more
than doubled in H1, vs a 32.7% decline last year, its best
half-year performance since H1 2002
    ** Peer Corporate Travel Management  CTD.AX  and Webjet
 WEB.AX  are broadly flat this year
    ** Macquarie says Webjet's recent share decline is due to
macroeconomic concerns; expects strong FY24 performance on
positive travel outlook

 (Reporting by Poonam Behura and Upasana Singh in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;
Upasana.Singh@thomsonreuters.com))