The Qantas Airways Limited (ASX: QAN) share price has been taking off lately, leaping nearly 10% over the last six months. And there have been plenty of positive releases driving the S&P/ASX 200 Index (ASX: XJO) stock higher.
The airline announced it expects to post its first half-year profit since the onset of the COVID-19 pandemic in October. It then upped its predictions once more, telling investors it tips its first-half underlying pre-tax profit to come in at between $1.35 billion and $1.45 billion last week.
Though, recent months haven't been all smooth sailing for Qantas. The airline has fielded its fair share of criticism. Indeed, Choice recently crowned the airline as Australia's 'shonkiest' brand – a critique Qantas rebuked.
All in all, the Qantas share price is currently $6.15. That's 19% higher than it was at the start of 2022 and 25% higher than it was this time last year.
Not to mention, it peaked at $6.36 last week – marking its highest point since February 2020.
But there might be clouds on the horizon for the Qantas share price. Here's why one fundie tips the stock as a sell.
Image source: Getty Images
Is the Qantas share price about to dive?
Red Leaf Securities CEO John Athanasiou has tipped Qantas shares as one to sell, as per The Bull, saying the airline could soon suffer amid cost-of-living pressures.
The fundie said Qantas has benefited from surging demand for travel after previous lockdowns despite claims of poor customer service. But that might soon come to an end. Athanasiou continued:
Our concerns are higher interest rates and rising cost of living expenses.
As interest rates rise and inflation continues to run rampant, Aussies might find themselves struggling to pay for housing, food, and other essentials. It's likely that holidays could be among the first expense surrendered in such an environment, according to Athanasiou.
Of course, that could be bad news for Qantas' bottom line and, in turn, its share price.
