AustralianSuper lifts stake in Qantas to 7.32%

• AustralianSuper increased its ownership stake in Qantas to 7.32% by purchasing additional shares between May 18 and Aug. 11.
• The fund now holds nearly 111 million shares valued at $1.11 billion based on a closing price of $10.07.
• The airline is scheduled to release its full-year financial results on August 27.

AustralianSuper increased its substantial holding in Qantas (ASX:QAN) from 6.29% to 7.32%.

The fund expanded its investment between May 18 and Tuesday while the airline's stock declined nearly 2 per cent over the past month.

The acquisition brought the fund's total holdings to just under 111 million shares valued at $1.11 billion at yesterday’s closing price of $10.07.

Qantas carries a total market capitalisation of $15.23 billion as it prepares to report its annual financial earnings later this month.

Following the announcement, the Qantas share price was down at $10.07.

The airline operates as a major carrier within the domestic and international aviation sector, connecting numerous regional and global destinations.