2312 GMT - Qantas Airways' bull at Citi is cautiously optimistic on the Australian carrier's rollout of ultra-long-haul services. Analyst Samuel Seow thinks that the investment case for Qantas's initial Sydney-London nonstop route appears reasonable. He tells clients in a note that the airline currently generates a 20% revenue-per-average-seat-kilometer premium on its comparable Sydney-Perth route. The A350 craft Qantas is using on the routes can also carry more freight, he adds. With Qantas rolling out its ultra-long-haul services on more proven and profitable routes, Seow thinks the planned phasing de-risks the early stages of the project. Citi has a "buy" rating on the stock and a target price of 10.40 Australian dollars. Shares are at A$9.99 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 18, 2026 19:12 ET (23:12 GMT)
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