The Qantas Airways Limited (ASX: QAN) share price has had a shocking 30 days, potentially due to the recent identification of the Omicron COVID-19 variant.
But now, as the future begins to look a little brighter for the travel industry, is it time to buy into Australia's trademark airline? These fundies think so.
The Qantas share price is $5.01. That's 11.17% lower than it was this time last month.
Let's take a look at what's got experts excited over the Qantas share price.
Fundies mark Qantas share price a buy
According to Shaw and Partners senior investment advisor and author of Market Matters James Gerrish and Tribeca Investment portfolio manager Jun Bei Liu, Qantas is soaring towards bigger horizons.
The pair told Livewire they expect the airline to begin emerging from the pandemic stronger and leaner than before.
Gerrish commented on the last two years for the company:
[It's] one of those businesses that have made good use of the pandemic, and I don't say that lightly – obviously management have taken a challenging period, worked with it, and right-sized the business for the future.
So, they've done a whole bunch of things around their cost base [and] the domestic market has become a lot more rational.
In Gerrish's eyes, that makes Qantas a buy at its current share price.
Liu also picked Qantas as a stock to buy. She believes the company will "deliver significant returns to shareholders".
Though, Liu's reasons are slightly different to Gerrish's. Liu said:
The [Qantas] share price has come off as the new variant is, sort of, sending a bit of fear around.
My view is that this company is going to make most of its high margin money around Australia, rather international trouble, and that's well on track…
And, as James said, they have right-sized the cost base and, in the next 12 to 18 months, we'll return to normal [with] borders open.
While the last month has been tough for the Qantas share price, it's still 2% higher than at the start of 2021.
