Yeah quite likely Skid, they could have been trying to return to Malaysia. Seems their positioning system was off an hour before the plane disappeared. Its just strange they couldn't communicate in some way to alert that there was a problem.
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So now it looks like a political cock up is also injected into the mix--Apparently the military radar tracked it turning left and back tracking back over Malaysia and into a completely different body of water.
Rumor has it that the military was embarrassed by the fact that their security was so slack as to have not been alerted.
So they may have been searching in the wrong sea!
Good to see VAH just firming a little bit and QAN showing further weakness. Would be nice to think investors are cycling out of QAN and into VAH (wishful thinking) and it would be even better if the traveling public we're doing the same!
Time will tell.
VAH up 4% today, increase in volume in the last couple of days as well. Air NZ seem pleased with their investment.
Qantas has finally blinked in a vicious capacity battle with Virgin Australia that could result in the larger carrier reporting a record loss approaching $1 billion.
Qantas will freeze domestic capacity in the first three months of the financial year because of weak consumer confidence and a slowdown in the mining sector that have hit at a time when capacity has outstripped demand.
It marks the formal abandonment of a strategy of maintaining a line in the sand at 65 per cent domestic market share, which was meant to maximise profitability.
Alan Joyce: happy with 63 per cent.
In January, Qantas chief financial officer Gareth Evans said ''stepping back from the 65 per cent would effectively be waving the white flag''.
Qantas chief executive Alan Joyce had led a campaign seeking a debt guarantee from the federal government to level the playing field against foreign-backed Virgin, in a move that might have prolonged the capacity battle.
But Prime Minister Tony Abbott in February turned down the request, offering instead to push for foreign ownership restrictions on Qantas to be lifted, in a move that has yet to be approved by the Senate.
In a presentation to investors at the Macquarie conference in Sydney this month, Mr Joyce indicated the carrier's market share stance was softening.
He said the airline was comfortable with its current position of about 63 per cent and was more focused on maintaining frequency and network advantages that help attract and retain customers.
The airline on Wednesday told investors total domestic capacity growth, including Qantas, QantasLink and Jetstar, would be ''zero in each of the first three months of financial year 2015 compared with the prior corresponding period''.
But the statement left room for Qantas to cut capacity in the mainline division while adding it in Jetstar, if it chooses, in line with long-running trends.
Qantas provided the update to the market alongside weak April traffic statistics, with the timing linked to it pulling some flights and placing smaller aircraft on others for the July-to-September period.
Read more: http://www.smh.com.au/business/qanta...#ixzz32OJfh23c
VAH up 16% in the last couple of weeks.
Over 30 million shares crossed today and the VWAP up almost 7%. That's quite large on both counts for VAH. One of the big 3 grabbing more?
Air NZ ( and notably Luxon), Singapore and Etihad all now on the board. Good things should come of this.
Disc. Hold quite a few so I'm biased
Yeah, I sold some today, but have plenty more.