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The Genetic Signatures Ltd (ASX: GSS) share price is rocketing higher on Wednesday after the release of an announcement.

In afternoon trade the specialist molecular diagnostics company’s shares are up almost 25% to $2.12.

Why is the Genetic Signatures share price rocketing higher?

Investors have been fighting to get hold of the company’s shares this afternoon after it announced a major new customer win.

According to the release, the company has signed a deal with Boston Medical Center (BMC) of Boston, Massachusetts, to supply EasyScreen SARS-CoV-2 Detection Kits.

Management notes that the new supply agreement will provide BMC with an expanded testing capability and that it has been signed during a particularly challenging phase of the COVID-19 pandemic in the US.

The release explains that its target volumes are for 1,000 patient samples per day over the next two years. Though, there is no minimum purchase quantity. In addition to this, Genetic Signatures will provide instruments for testing.

Management has warned that the duration and severity of the COVID-19 pandemic is uncertain and may influence the number of EasyScreen SARS-CoV-2 Detection Kits purchased. Though, if target volumes are achieved this will contribute significant revenue to Genetic Signatures over the life of the agreement.

The first order for US$227,000 has been received and will be invoiced this month.

Genetic Signatures’ CEO, Dr John Melki, commented: “The new supply agreement and first North American customer marks a major milestone for Genetic Signatures. We are pleased to be working with the Boston Medical Center, a highly regarded hospital and medical center in the US. As COVID-19 remains a challenge in North America, wide-spread testing remains key to managing the spread of the disease.”

“Genetic Signatures remains focused on both growing its global reputation as a leading molecular diagnostics company, and the provision of reliable and accurate diagnostic solutions. While securing new customers across North America and EMEA is a near-term focus, the Company is continuing to market the benefits of more comprehensive screening with our EasyScreen™ Detection Kit range,” he concluded.

More reading

• Tesla asked Apple to buy it
• The GR Engineering (ASX:GNG) share price has climbed 3% today. Here’s why.
• These 4 ASX REITS are about to go ex-dividend
• Top brokers name 3 ASX shares to buy today
• ASX 200 up 0.5%: Big four banks rise, Smartgroup guidance, Transurban distribution update

Motley Fool contributor James Mickleboro 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 Bruce Jackson.

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Tesla Inc (NASDAQ: TSLA) chief Elon Musk has made a stunning claim that he once tried to get Apple Inc (NASDAQ: AAPL) to buy his company.

Musk tweeted the recollection on Wednesday morning Australian time.

“During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value),” he said.

“He refused to take the meeting.”

The bomb came the day after Apple revealed its plans to put out an all-electric passenger car to market by 2024.

A merger between the electric vehicle leader and the computing giant would have been a blockbuster deal. Apple is the world’s largest company by market capitalisation while Tesla is ranked 7th.

The combined capitalisation would be US$2.85 trillion as of Wednesday morning.

During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting.

— Elon Musk (@elonmusk) December 22, 2020

https://platform.twitter.com/widgets.js

Bargain of the century?

Cook might have missed the deal of a lifetime, as Tesla shares have been on a tear in 2020.

The car maker’s stock price started at US$86.05 at the start of the year and is now US$640.34 — a 644% increase.

Apple itself hasn’t done badly either, starting 2020 at US$75.09 and trading now at US$131.88. That’s a 76% return for its shareholders.

Apple has been a beneficiary of the reliance on technology during the COVID-19 pandemic.

“[Tech] brands were used as a means of navigating the pandemic as most people opted for technology solutions to work remotely, learn, and keep entertained,” reported Dutch financial comparison site Bankr last week.

“Due to the companies’ ability to offer solutions during the pandemic, their stock rallied, indicating a sign of investor confidence amid economic turmoil.”

Tesla’s rally has been due to the confidence of investors that electric vehicles are the way of the future.

The Motley Fool US also reported that the company also “turned a corner” financially this year.

“It hit an inflection point in which it achieved the scale and developed the manufacturing prowess to start turning a profit,” wrote The Motley Fool US tech specialist Daniel Sparks.

“Consider how Tesla’s free cash flow and net income have improved over the past 12 months. The company has gone from annualised free cash flow and net income of negative US$4 billion and negative US$2 billion respectively one year ago to trailing-12-month (TTM) free cash flow of US$2 billion and TTM net income of US$556 million.”

More reading

• Is Apple (NASDAQ:AAPL) about to launch an electric car?
• In a record-breaking year, here are some of the world’s most popular shares
• Why shares are less risky now than 30 years ago
• US “mum and pop” investors leaving the pros in the dust in 2020 stock rally
• What will happen when Tesla (NASDAQ:TSLA) joins the S&P 500 today?

Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Apple and Tesla. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The GR Engineering Services Ltd (ASX: GNG) share price has surged higher in morning trade, up 3.51% at $1.18.

This follows the company’s announcement of a new Australian government contract for its wholly owned subsidiary, Upstream Production Solutions Pty Ltd (Upstream PS).

What’s driving the GR Engineering share price today?

In today’s ASX release, GR Engineering reported that Upstream PS has secured a 1-year contract with the Department of Industry, Science, Energy and Resources (DISER).

In the contract, the company will provide operations, maintenance and project services to the Northern Endeavor floating production storage and offloading (FPSO) facility and its associated infrastructure.

Upstream PS has provided maintenance and operations services to the FPSO since February this year. That contract is due to expire on 31 December, in the leadup to the FPSO’s disconnection and removal..

The company expects approximately $130 million in revenue from the new contract, based on the budget for core operation and maintenance services and the planned pre-disconnection project works involved.

Commenting on the new contract, GR Engineering managing director Geoff Jones said:

We are pleased to continue working with DISER and the relevant regulatory bodies to safely manage and maintain the FPSO and execute the required pre-disconnect preparation activities to support a safe removal of the FPSO in the future.

Company snapshot

GR Engineering provides process engineering design and construction services to the mining and mineral processing industry.

With projects at Dalgaranga Gold, Mt Morgan, and Nova Nickel, it has divisions in mining processing, and oil and gas. The majority of its revenue is generated from the mining processing segment.

GR Engineering shares first began trading on the ASX in April 2011. The company has a current market cap of $177 million and pays a dividend yield of 5.3%, unfranked.

About the GR Engineering share price

The company was off to a strong start in 2020, with the share price gaining 25% by 24 January. From there, shares got dragged down by the wider COVID-driven selloff, falling 34% by 23 March. Since the March low, the GR Engineering share price has surged 76%, putting its shares up 45% year-to-date.

By comparison, the broader All Ordinaries Index (ASX: XAO) is up 1.5% for the year.

More reading

• Why the Archer Materials (ASX:AXE) share price is up 2% today
• Why the Think Childcare (ASX:TNK) share price is up 2% today
• The Pensana (ASX:PM8) share price shot up 14% higher today. Here’s why
• ASX 200 Weekly Wrap: ASX hits new post-March high
• Why the CleanSpace (ASX:CSX) share price is climbing today

Motley Fool contributor Bernd Struben 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 Bruce Jackson.

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It has been a difficult year for dividend investors. Company dividends were slashed or suspended completely for the sake of capital preservation during COVID-19. Now is a different story though – the economy is rebounding, and some dividend darlings have started to reinstate their payouts or better yet, increase them.

On 30 December 2020, these 4 ASX real estate investment trusts (REITs) will go ex-dividend. Let’s take a closer look.

Charter Hall Group (ASX: CHC)

Charter Hall Group is an ASX listed property investment and funds management company. Its investments encompass an assortment of office, industrial, retail, and residential property. The company has outperformed the S&P/ASX 200 A-REIT Index (Index: XPJ) since listing on the ASX 15 years ago.

Charter hall has been on an acquisition spree recently. In November, it acquired 6 Bunnings assets across metropolitan areas for $353 million. In addition to that, yesterday the company announced the acquisition of David Jones’ flagship Sydney CBD store for $510 million.

The dividend set to be paid to shareholders recorded before the ex-date is 18.55 cents per share. Based on yesterday’s closing share price, that is a yield of 1.3% for this payment. The dividend will be paid on 26 February 2021.

National Storage REIT (ASX: NSR) 

National Storage updated the market last week with guidance that the self-storage provider expects earnings per share to be between 7.7 cents per share to 8.3 cents per share. The company anticipates the FY 2021 dividend payout will be 90% to 100% of the underlying earnings.

If you live near a city, you have likely driven by one of National Storage’s 206 storage facilities scattered throughout Australia and New Zealand. There are no plans of slowing down either – expansion opportunities are continuing to be investigated in greater Melbourne, Sydney, and Brisbane metro regions.

Management has estimated the interim dividend payable on 1 March 2021 will be 4 cents per share. At the time of writing this equates to a full year trailing yield of 3.8%.

Rural Funds Group (ASX: RFF)

Rural Funds is an Australian REIT specifically focused on leasing Australian agricultural assets back to experienced counterparties. The agricultural sectors that it operates in include almond and macadamia orchards, poultry, vineyards, cattle and cropping.

Last week the company announced a water allocation purchase for the development of up to 2,500 hectares of macadamia orchards. Rural Funds and Sunwater Limited have exchanged contracts for the acquisition of 21,600 Megalitres of medium priority water supply from the lower Fitzroy River at a conditional price of $32.4 million.

The company has performed well through a challenging year, with the Rural Funds share price increasing 32.63%, compared to the S&P/All Ordinaries Index (ASX: XAO) falling 0.72%. The estimated dividend payable on 29 January 2021 is 2.82 cents per share, an increase of ~4% compared to the previous year.

Dexus Property Group (ASX: DXS)

Dexus is one of Australia’s biggest real estate groups, with $32 billion of total funds under management. Its portfolio is comprised of 153 properties across a mix of office, retail, industrial and healthcare assets.

Strategically, Dexus has been selling some of its property assets to build out its balance sheet. This puts it in a prime position for acquisitions when they arise. 

Dexus has also been taking the opportunity to use this additional cash to buy back stock in the company at a discount to net tangible assets (NTA). This was described as a “value-enhancing trade” by Dexus chief investment officer Ross Du Vernet (as quoted in the Australian Financial Review).

Despite being impacted by the rent relief provision introduced by the government and the continuation of the work from home trend, Dexus has managed to continue paying dividends.

According to its most recent distribution announcement, Dexus will pay 28.8 cents per share as its interim dividend. This is a 6.6% increase from the prior interim dividend. Eligible shareholders can expect it to be paid on 26 February 2021.

More reading

• ASX 200 drops over 1%
• Top broker puts sell rating on National Storage (ASX:NSR) shares
• Why the Charter Hall (ASX:CHC) share price could be one to watch today
• 2 ASX dividend shares with 4%+ yields
• 4 rock-solid ASX dividend shares to buy for 2021

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

City Chic Collective Ltd (ASX: CCX)

According to a note out of Citi, its analysts have retained their buy rating and lifted the price target on this fashion retailer’s shares to $4.00. This follows the announcement of the acquisition of UK-based plus-sized women’s fashion retailer Evans this week. The broker is expecting the acquisition to be meaningfully accretive to earnings from next year and suspects it could help drive margin expansion. The City Chic share price is changing hands for $3.79 this afternoon.

QBE Insurance Group Ltd (ASX: QBE)

Another note out of Citi reveals that its analysts have retained their buy rating but cut the price target on this insurance giant’s shares to $10.60. According to the note, the broker was disappointed to see QBE announce yet another profit warning. However, given its undemanding valuation and a very favourable premium rate backdrop, the broker is holding firm with its buy rating. It expects premium increases to underpin margin expansion and growth in the coming years. The QBE share price is fetching $8.85 on Wednesday.

Volpara Health Technologies Ltd (ASX: VHT)

Analysts at Morgans have retained their add rating and $1.71 price target on this healthcare technology company’s shares. This follows the announcement of a five-year software-as-a-service (SaaS) contract with BreastScreen Queensland. BreastScreen Queensland is the third largest public breast screening program in Australia. Morgans suspects that this could be the first of other state-based screening programs. In addition, Morgans has reminded investors about an upcoming ruling by the FDA that could see the regulator mandate that a women’s breast density must be reported. This would be a big positive for the company. The Volpara share price is trading at $1.38 this afternoon.

More reading

• 2 small cap ASX healthcare shares to watch
• ASX 200 drops over 1%
• Leading brokers name 3 ASX shares to sell today
• Why a2 Milk, Doctor Care Anywhere, McPherson’s, & Volpara are pushing higher
• Volpara (ASX:VHT) share price jumps 5% in morning trading. Here’s why

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends VOLPARA FPO NZ. The Motley Fool Australia has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to bounce back from yesterday’s decline. The benchmark index is currently up 0.5% to 6,632.8 points.

Here’s what has been happening on the market today:

Transurban reveals distribution plans.

The Transurban Group (ASX: TCL) share price is trading broadly flat on Wednesday following the release of an update on its distribution plans. The toll road giant revealed that it plans to pay an interim distribution of 15 cents per share. This is half the distribution it paid in the prior corresponding period. Looking ahead, it continues to anticipate that the full year distribution will be in line with free cash, excluding capital releases.

Smartgroup FY 2020 guidance.

The Smartgroup Corporation Ltd (ASX: SIQ) share price is surging higher today after the salary packaging and novated leasing company released its guidance for FY 2020. Smartgroup is expecting an adjusted net profit after tax before amortisation of $65 million. While this is down almost 20% from a year earlier, it is a lot better than many investors had feared.

Big four banks rise.

The big four banks are all performing positively on Wednesday and helping to drive the ASX 200 higher. The best performer in the group has been the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price. The banking giant’s shares are up a decent 0.6% at the time of writing after investor sentiment improved.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Wednesday has been the Smartgroup share price with an 8% gain following its guidance update. The worst performer has been the Ramelius Resources Limited (ASX: RMS) share price with a 4.5% decline. A number of gold miners have come under pressure on Wednesday after a pullback in the spot gold price.

More reading

• Here’s what the Transurban (ASX:TCL) dividend will look like in 2021
• Why the Smartgroup (ASX:SIQ) share price has popped 7% higher
• Here’s how ASX 200 energy shares have performed in 2020 so far
• ASX miners put on alert as the iron ore price crashes overnight
• Why the Challenger (ASX:CGF) share price is one to watch today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool Australia has recommended SMARTGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The iron ore price is on a lot of lips right now, including ours. Yesterday, we were talking about how iron ore was trading at a nine-year high. Today, we’re telling you about the overnight price crash which puts the share prices of miners such as BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) under a cloud.

Year-over-year, the price has risen around 70%. So why does it seem like everyone’s talking about the iron ore price?

China likes making steel

At the start of 2020, the World Steel Association (worldsteel) reported that as of 2019, China was producing more than half of the world’s crude steel. A few days ago, worldsteel announced that China’s crude steel production has increased 8%, comparing November 2019 to November 2020.

Producing steel doesn’t exclusively involve iron ore either, right? It also involves coal, for example.

According to the World Coal Association, “Global steel production is dependent on coal. 70% of the steel produced uses coal.”

Australia likes selling China iron ore, as well as coal

A couple of days ago, Treasury was cheering about the iron ore price as the mid-year economic and fiscal outlook approached. That’s because while COVID-19 continues to ravage other industries, mining has managed to carry the flag.

Discussing Australia’s trade relationship with China back in September, the Australian Bureau of Statistics (ABS) noted, “The overall value and growth in goods exported to China in recent years has been driven by exports of resource commodities, in particular metalliferous ores (mostly iron ore), and coal.”

Exporting iron ore and coal are good for the Australian economy, point blank. So when the price of either starts going crazy, people are going to talk about it.

What lies ahead for the iron ore price?

Considering the monstrous gains that the iron ore price has experienced during 2020, a correction could be approaching. Although, unless Brazil can come back from the landslide suffered this week, pressure might remain on prices as we gear up for the new year.

The Financial Review recently pointed out that in addition to consuming more than half of the global iron ore supply, China “was the buyer of 68 tonnes in every 100 tonnes of Australian production” last financial year.

As long as the iron ore price holds such a heavy impact on the Australian economy, you can bet that people will keep talking about it. 

More reading

• ASX miners put on alert as the iron ore price crashes overnight
• These ASX shares have more than doubled in 2020
• How to get the best out of the 2021 mining boom
• ASX 200 down 0.85%: ANZ CFO resigns, tech shares tumble, iron ore jumps
• Iron ore hits 9-year high: What this means for BHP, Fortescue, & Rio Tinto

Motley Fool contributor Gretchen Kennedy 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 Bruce Jackson.

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It has been a very positive day for the S&P/ASX 200 Index (ASX: XJO) on Wednesday. In late morning trade the benchmark index is up 0.8% to 6,654.5 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is down 3% to $1.08. Investors have responded unenthusiastically to the company’s acquisition announcement this morning. Bigtincan has entered into a binding agreement to acquire unified sales enablement platform provider, ClearSlide, for US$16.25 million (A$22.6 million) in cash. ClearSlide is expected to report annualised recurring revenue (ARR) of ~US$5.2 million in 2021.

Over the Wire Holdings Ltd (ASX: OTW)

The Over the Wire share price is down a further 6% to $3.98. Investors have been selling the telecommunications, cloud and IT solutions provider’s shares since the release of a trading update yesterday. That update revealed that the company expects to report a 22% to 28% increase in EBITDA in the first half. However, this has been boosted by acquisitions. Its existing businesses will deliver lower EBITDA than a year ago.

Resolute Mining Limited (ASX: RSG)

The Resolute share price has come under pressure and is down 2.5% to 77.5 cents. Investors have been selling Resolute and other gold miners on Wednesday after the spot gold price pulled back overnight. This has led to the S&P/ASX All Ordinaries Gold index trading 0.9% lower at the time of writing.

Uniti Group Ltd (ASX: UWL)

The Uniti share price is down 1% to $1.70. This morning the telco announced the details of the share purchase plan from its equity raising to fund the acquisition of the Telstra Velocity assets from Telstra Corporation Ltd (ASX: TLS). Uniti is aiming to raise $10 million at the lower of $1.50 per new share or the volume weighted average price of its shares during the five trading days up to and including 20 January plus a 2% discount.

More reading

• Here’s why the Bigtincan (ASX:BTH) share price is dropping lower
• Here’s what is dragging the Over the Wire (ASX:OTW) share price lower
• 2 blue chip ASX shares to buy for 2021
• Cimic (ASX:CIM) share price falls despite positive update
• ASX 200 Weekly Wrap: ASX hits new post-March high

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends BIGTINCAN FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Over The Wire Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended BIGTINCAN FPO and Over The Wire Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Ingenia Communities Group (ASX: INA) share price is up 1.24% in early morning trade.

This follows on the company’s announcement of a major new acquisition as well as a trading update.

What did Ingenia report to send its shares higher?

In this morning’s ASX release, Ingenia reported it had acquired Merry Beach Caravan Park on the New South Wales South Coast for $20.5 million. The deal is scheduled to settle in March.

The new acquisition adds more than 540 cabins, sites, permanents and annuals to the company’s portfolio. Annuals provide approximatey two-thirds of revenue. This increases the size of its holiday offerings by more than 10%.

Around 3.5 hours south of Sydney, Merry Beach Caravan Park has walking tracks, a swimming pool, a playground and direct beach access.

Commenting on the acquisition, Ingenia Communities Group CEO Simon Owen said:

Merry Beach offers a unique opportunity to acquire a beachfront park with significant upside potential. We have identified a number of ways to enhance performance, including upgrades to facilities and improving the accommodation offer and mix. Like Ingenia Holidays Lake Conjola the Park benefits from a stable revenue base from more than 350 annuals.

The prime location provides easy access to the beach and beauty of the Murramarang National Park. We know the South Coast market well and are excited to add Merry Beach to our established cluster.

Noting that Ingenia is closing monitoring the evolving situation with New South Wales new COVID outbreak, Owen added:

Combined with the acquisition of BIG4 Inverloch Holiday Park and the mixed-use Middle Rock Holiday Parka and Village, we have announced close to $74 million of acquisition this month and are continuing to work through the due diligence for a number of potential acquisitions, including a large lifestyle community.

Ingenia Communities Group share price and company snapshot

Ingenia owns, operates and develops a portfolio of lifestyle and holiday communities (Ingenia Lifestyle and Holidays) and rental communities (Ingenia Gardens). The company’s assets are located throughout Australia, primarily in Queensland, New South Wales and Victoria. Ingenia pays a 2.0% dividend yield, unfranked.

Like most every ASX 200 share involved in the tourism business, Ingenia’s share price was hit hard during the COVID market panic. Shares fell 46% from 5 March through to 23 March.

Since that low the Ingenia share price has soared 75%. Year-to-date shares are down 1.4%. That compares to a 0.5% loss on the S&P/ASX 200 Index (ASX: XJO) at time of writing.

More reading

• These are the 5 best ASX real estate shares of 2020

Motley Fool contributor Bernd Struben 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 Bruce Jackson.

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Qantas Airways Limited (ASX: QAN) will face off against employees in the High Court of Australia on Wednesday.

Four unions are appealing against a Full Federal Court decision last month that the airline did not have to provide sick, compassionate or carer’s leave for staff that had been stood down.

Qantas stood down about 20,000 employees at the start of the COVID-19 pandemic when it became apparent its planes would be grounded.

The Australian Council of Trade Unions (ACTU) claims Qantas’ denial forced some seriously ill workers to take a redundancy for financial reasons.

“Qantas’ behaviour toward the most unwell people in its workforce has been callous and illegal,” said ACTU assistant secretary Scott Connolly.

“Stand downs are meant to be strictly limited to particular circumstances, but even in those circumstances workers should not be prevented from taking leave or being paid their basic entitlements.”

Connolly added the High Court result could have ramifications for all Australian businesses and workers.

“This appeal is not just important for Qantas employees who’ve been unfairly denied access to their own sick, compassionate, personal or carer’s leave, it’s critical to all workers in Australia who may be stood down in the future.”

The airline did provide annual and long service leave during the coronavirus stand down.

The Motley Fool has contacted Qantas for comment.

Running battle with its own staff

Law firm Maurice Blackburn is handling the appeal on behalf of the Transport Workers Union (TWU), the Electrical Trades Union (ETU), the Australian Workers Union (AWU) and Australian Manufacturing Workers Union (AMWU).

“Denying sick workers the leave they have built up and pushing them in some cases out of their jobs in order to access redundancy payments to pay bills is utterly despicable,” said TWU national secretary Michael Kaine.

“Qantas has received over $800 million in taxpayers’ support to help it during the pandemic but instead of acting like a responsible employer in return it is trashing lives and trashing jobs.”

There was one dissenting judge, Justice Mordy Bromberg, in the Full Federal Court hearing. The unions are pursuing his line of argument in the High Court.

“The corollary of this contention is that there is no entitlement to any kind of paid leave whatsoever, whenever an employee cannot be usefully employed,” he said in the judgment.

“That notion is startling in its reach and effect.”

Just last week Qantas had a separate court victory against the unions. The Full Federal Court reversed an earlier judgment that the airline had illegally pocketed JobKeeper payments that should have been passed along to employees.

More reading

• Air New Zealand (ASX:AIZ) share price rises despite falling air traffic
• Why this fund manager prefers Transurban over Sydney Airport, Flight Centre and Qantas
• 3 best and worst performing ASX transport shares of 2020
• ASX 200 ends slightly down
• ASX 200 down 0.4%: NIB jumps, a2 Milk rebounds, WiseTech sinks lower

Motley Fool contributor Tony Yoo owns shares of Qantas Airways Limited. 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 Bruce Jackson.

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