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Here’s Why The Qantas (ASX:QAN) Share Price Fell Today

Jaz Harrison
Jaz Harrison
Jaz Harrison

Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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The Qantas Airways Limited (ASX: QAN) share price declined more than 1.5% today after the airline announced a leadership change.

Qantas is Australia’s leading airline. It was founded in the Queensland outback in 1920, the Qantas name was originally Queensland and Northern Territory Aerial Services. The company operates two main airlines – Qantas and Jetstar – and subsidiary businesses including other airlines, businesses in specialist markets such as Q Catering, Qantas Freight Enterprises and the popular Qantas Frequent Flyer program. It employs some 30,000 people with around 93 per cent of them based within Australia.

Qantas Share Price Falls

Qantas has said that Alison Webster has resigned as CEO of Qantas International, her last day being 24 April 2019.

Narendra Kumar, who is the former chief financial officer (CFO) of Qantas International and is currently overseeing planning for changes to the airline’s long-haul fleet, will be temporarily put in charge until a permanent choice is made.

This is the division that suffered a 60% hit to EBIT (click here to learn what EBIT means) in the recently-announced half year result.

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