What’s boosting the Qantas share price on Tuesday?

plane flying across share markey graph, asx 200 travel shares, qantas share priceplane flying across share markey graph, asx 200 travel shares, qantas share price

The Qantas Airways Limited (ASX: QAN) share price is leaping ahead today.

Qantas shares have risen 2.6% and are currently trading at $4.545. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 1.41%.

Let’s take a look at what could be giving this ASX travel share a boost.

Qantas shares rise

Qantas shares are jumping, but it is not the only ASX 200 travel share on the rise today. Webjet Limited (ASX: WEB) shares have risen 3.2%, while Flight Centre Travel Group Ltd (ASX: FLT) shares are up 4.19%.

In today’s news, Qantas has ditched the mask mandate on selected international flights. This includes flight paths between Queensland, New South Wales and Western Australia to the USA, United Kingdom and Rome. An internal memo to Qantas staff cited by Nine News stated:

The change to in-flight mask requirements on some international flights is an important step in our transition to living with COVID, and we welcome this change

Meanwhile, a solution to another international travel barrier is also in focus today. The use of Australian digital COVID-19 vaccine certificates in restaurants and tourist attractions overseas could become easier in the future.

The Sydney Morning Herald reported Australia’s Federal Health Minister Mark Butler is meeting with G20 leaders to discuss reducing “impediments for travellers as they cross borders“. This could include a pilot program to universally recognise vaccine passports from multiple nations including Australia, Canada, Brazil and the United States.

In other news, Qantas announced a new sustainability partnership earlier this week. The airline will work with Airbus to establish a domestic sustainable aviation fuel industry. This involves a US$200 million investment.

Qantas share price snapshot

The Qantas share price has dropped nearly 3% in the past 12 months, while it has slumped more than 9% year to date.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has shed nearly 10% in a year.

Qantas has a market capitalisation of about $8.6 billion based on today’s share price.

The post What’s boosting the Qantas share price on Tuesday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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