Qantas share slide on the cards
THE Qantas share price has stayed remarkably firm a week since the corporate takeover debacle, but analysts are predicting a slide is in the wings.
The airline's shares soared 16 per cent, from $4.20 to $4.86, after the announcement of a private equity bid from the Macquarie Bank-led Airline Partners Australia in November.
The stock eventually peaked at $5.39 before the takeover consortium conceded defeat last week, and closed relatively unscathed at $5.19 on Friday.
Many experts predicted there would be more damage - some expecting the stock to plummet to the mid-four dollar range - as opportunistic hedge funds fled. Among the doomsayers was company chairwoman Margaret Jackson.
"If anyone thinks this will happen without affecting the (share) price then they have a mental problem with how the market works," she said in March.
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