Qantas shares dipped 2.97% to A$5.22 ($4.30) yesterday, one day after trading was suspended in the wake of the chaotic collapse of Airline Partners Australia's A$5.45-per-share bid for the airline. The decline was not the magnitude predicted by APA, although the consortium's indication that it may return with another offer likely helped support the share price (ATWOnline, May 8). Qantas shares now are trading at 10 times forward earnings for 2008, while Air New Zealand is trading at 17 times ...

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