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“This is the best news we’ve had” – Qantas brings forward international travel

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Qantas will bring forward its restart date of international flights for fully vaccinated travellers

Qantas and Jetstar will bring forward the restart of more international flights to popular destinations from Sydney and operate regular flights to Delhi, the first commercial flights for Qantas between Australia and India in almost a decade.

“This is the best news we’ve had in almost two years and it will make a massive difference to thousands of our people who finally get to fly again.”

Qantas Group CEO Alan Joyce said

The faster ramp up follows the Federal and New South Wales governments confirming that international borders would reopen from 1 November 2021 and the decision by the NSW Government to remove quarantine requirements for fully vaccinated arrivals – which significantly increases travel demand.

“Australia is ready for take off”

Australia’s pm said on friday

“We’ve said for months that the key factor in ramping up international flying would be the quarantine requirement. The decision by the NSW Government to join many cities from around the world by removing quarantine for fully vaccinated travellers means we’re able to add these flights from Sydney much earlier than we would have otherwise,” Joyce said.

These decisions – combined with plans by states and territories to reopen domestic borders – support all Qantas and Jetstar workers based in Australia and New Zealand who are currently stood down to return to work by early December 2021.

This includes around 5,000 employees linked to domestic flying and around 6,000 linked to international flying.

Due to extended border closures, many international crew have been stood down since the start of the pandemic.

All passengers on Qantas and Jetstar international flights (aged 12 years and older) will be required to be fully vaccinated with a TGA-approved vaccine (unless they have an exemption).

Qantas and Jetstar are preparing to ramp up capacity

The updated international schedule published today will allow flights from Sydney to Singapore, Bangkok, Phuket, Johannesburg, Fiji to resume ahead of schedule.

Qantas will also launch new route from Sydney to Delhi before Christmas.

Qantas and Jetstar are preparing to ramp up capacity between Melbourne and Sydney as quarantine-free travel is set to resume between Australia’s two largest cities

Pre-COVID, Melbourne-Sydney was the second busiest route in the world, with the Group operating up to 58 return services per day, but during the latest lockdowns this got down to as low as one return flight per day for essential travel only.

When the Victorian and NSW borders open, Qantas and Jetstar will operate up to 18 return flights per day, increasing to up to 37 return flights per day by Christmas.

Additional capacity will be added on other routes to and from Sydney and Melbourne, as restrictions are lifted by other states and territories.

“We’ve said for months that the key factor in ramping up international flying would be the quarantine requirement. The decision by the NSW Government to join many cities from around the world by removing quarantine for fully vaccinated travellers means we’re able to add these flights from Sydney much earlier than we would have otherwise,” Joyce said

“We hope that as vaccination rates in other states and territories increase, we’ll be able to restart more international flights out of their capital cities. In the meantime, Sydney is our gateway to the rest of the world.”

Fleet update

Qantas has further accelerated the return of its fleet of A380 aircraft.

Originally expected to remain in long term storage in the Californian desert until the end of 2023, the Group announced in August that five A380s with upgraded cabins would return from July 2022 to operate Los Angeles and London flights. This is now being brought forward a further three months, with two of the A380s to commence flights to Los Angeles from April 2022. One aircraft could arrive by the end of this year to assist with crew training ahead of its return to service.

A further three A380s will return to service from mid-November 2022 with the remaining five expected to return to service by early 2024.

Qantas is also looking to bring forward delivery of three brand new 787-9 aircraft, currently in storage with Boeing, several months earlier than planned as demand increases.

 

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Inflation rise reduces chances of Reserve Bank rate cut

Inflation spikes, drastically reducing chances of a Reserve Bank rate cut amid economic pressures and rising costs

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Inflation spikes, drastically reducing chances of a Reserve Bank rate cut amid economic pressures and rising costs

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In Short:
– Rate cut likelihood by the Reserve Bank has decreased due to a rise in annual inflation to 3.2 per cent.
– Significant price increases in housing, recreation, and transport are raising concerns for the Reserve Bank.

The likelihood of a rate cut by the Reserve Bank has decreased significantly after a surge in annual inflation.

The Australian Bureau of Statistics reported that inflation for the year ending September rose to 3.2 per cent, reflecting a 1.1 per cent increase.

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Trimmed mean inflation, a crucial measure for the Reserve Bank, was recorded at 1 per cent for the quarter and 3 per cent for the year. The bank anticipates inflation to reach 3 per cent by year-end, while trimmed mean inflation is expected to slightly decrease.

The quarterly rise of 1.3 per cent in September exceeded expectations. Governor Bullock noted that a deviation from the Reserve Bank’s projections could have material implications.

Financial markets reacted promptly, with the Australian dollar rising against the US dollar, while the ASX200 index fell.

The most significant price increases were observed in housing, recreation, and transport, indicating widespread price pressures that concern the Reserve Bank.

Despite the unexpected inflation rise, some economists believe the Reserve Bank may still consider rate cuts in December, viewing current price spikes as temporary due to the winding back of subsidies.

Economic Pressures

Broad-based economic pressures suggest that the Reserve Bank may not reduce interest rates at its upcoming meeting. Analysts highlight the need for ongoing support for households facing cost-of-living challenges.


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Wall Street hits record highs on low inflation

Wall Street hits record highs on cool inflation and strong earnings ahead of key Federal Reserve interest rate decision

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Wall Street hits record highs on cool inflation and strong earnings ahead of key Federal Reserve interest rate decision

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In Short:
– U.S. stocks rose to record highs on Friday due to lower inflation and strong corporate earnings.
– Key earnings reports from major companies are expected next week, influencing market trends.
U.S. stocks rose to record highs on Friday due to lower-than-expected inflation data and positive corporate earnings.The S&P 500 and Nasdaq achieved their largest weekly gains since August. The Dow saw its biggest jump from Friday to Friday since June.

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The Labor Department reported that the Consumer Price Index was slightly cooler than analysts’ predictions, easing concerns about inflation impacts from tariffs. This development suggests a likely interest rate cut by the Federal Reserve at its upcoming meeting.

Ryan Detrick from Carson Group noted the positive inflation news may facilitate forthcoming Fed rate cuts. Despite the ongoing government shutdown affecting data releases, this CPI report provided much-needed clarity.

Earnings reports are continuing, with 143 S&P 500 companies having reported results. Growth expectations for third-quarter earnings have risen to 10.4%. Detrick indicated a strong opening to the earnings season with a significant percentage of companies exceeding expectations.

This coming week, key earnings will be reported from Meta Platforms, Microsoft, Alphabet, Amazon, and Apple, alongside industrial companies like Caterpillar and Boeing.

The Dow rose 472.51 points to 47,207.12. The S&P 500 increased by 53.25 points to 6,791.69, while the Nasdaq gained 263.07 points, reaching 23,204.87.

Alphabet gained 2.7% following a deal expansion with Anthropic. Coinbase saw a 9.8% increase from a JPMorgan upgrade. In contrast, Deckers Outdoor’s shares fell 15.2% after lowering sales forecasts.

Market Trends

Advancing stocks on the NYSE outnumbered decliners by 2.18 to 1. The S&P 500 had 34 new highs, with the Nasdaq recording 124.

Trading volume was 19.04 billion shares, lower than the average of the past 20 days.


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US stocks face tests from Tesla, Netflix earnings

US markets brace for Tesla and Netflix earnings amid rising volatility and delayed inflation data

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US markets brace for Tesla and Netflix earnings amid rising volatility and delayed inflation data

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In Short:
– Earnings reports from Tesla and Netflix might affect U.S. stock performance next week amid high inflation concerns.
– Increased market volatility arises from U.S.-China trade tensions and fewer S&P 500 stocks in an uptrend.
This coming week, earnings reports from companies including Tesla and Netflix are anticipated to impact U.S. stock performance.
Investors are also awaiting delayed U.S. inflation data, which could test market stability as it remains near record highs.Recent trading activity has shown increased volatility, influenced by ongoing U.S.-China trade tensions and concerns regarding regional bank credit risks. The CBOE volatility index has seen a rise, indicating increased market uncertainty.

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The S&P 500 entered its fourth year of growth amidst these fluctuations, having previously experienced a period of calm. Experts suggest market risks are intensifying as valuations reach peak levels.

Market Volatility

Concerns regarding U.S.-China trade relations escalated last week when the U.S. threatened to raise tariffs by November 1 over China’s rare-earth export policies. President Donald Trump is scheduled to meet with President Xi Jinping in two weeks to discuss these issues.

Despite these challenges, major stock indexes gained ground over the week, with the S&P 500 up 13.3% year-to-date. However, a noticeable decline in the number of S&P 500 stocks in an uptrend raises caution among investors about underlying market weaknesses.

The upcoming third-quarter earnings will be closely monitored, especially as the government shutdown halts economic data releases. Companies like Procter & Gamble, Coca-Cola, RTX, and IBM are due to report. The delayed U.S. consumer price index is also expected to provide crucial insights ahead of the Federal Reserve’s monetary policy meeting on October 28-29.


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