Click image for larger view.
As news - and wild speculation - swirled yesterday about Qantas' A380 engine explosion, its share price crashed. And despite the safe landing, investors are still jittery.
Qantas strongly brands itself as a safe airline, and is justifiably proud of never losing an aircraft to a crash. And in the immediate aftermath of the engine explosion, Qantas shares on the ASX (QAN) dived to $A2.82, a 5% discount from their trading price of $A2.97 only hours earlier.
The airline has since grounded its six A380 aircraft, pending further engine checks, and blamed the engine manufacturer, Rolls Royce.
Despite the A380 landing safely at Singapore's Changi airport, and Qantas' firm action in grounding its fleet, the market is still wary with their stock price only recovering slightly, to $A2.87.
Click chart for larger image:
Shares in Rolls Royce (RR) on the London stock exchange, have subsequently also been trading significantly down. Yesterday their stock traded at 654p, while recent trading at 620p has imposed a 5% discount.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Ardern cruises to Mt Albert victory, bringing Huo into Parliament
- Hooton: Racism lies behind Little’s kaupapa Maori attack
- Carry on: Xiamen for Auckland, Cathay for Christchurch, Virgin for HK and more
- MARKET CLOSE: NZ shares fall, Warehouse and Mercury NZ drop while Air NZ gains
- More franchisees claim to have been duped
Most listened to
- Business Week in Review with Grant Walker and Andrew Patterson
- Sunday Business with Andrew Patterson featuring Joanna Blatstone and Neil Parischa
- Rodney Hide: Advance means retreat for glacier scientists
- Stewart Germann and Gehan Gunasekara go head-to-head on the franchising debate
- Racism lies behind Little’s kaupapa Maori attack, says Matthew Hooton