The Qantas Airways Ltd (ASX: QAN) share price is flying high on Tuesday.
Shares in the S&P/ASX 200 Index (ASX: XJO) airline stock closed yesterday trading for $4.80. In afternoon trade today shares are swapping hands for $4.94, up 2.9%.
That compares to the retreating 0.1% gains posted by the ASX 200 at this same time.
So, what's lifting the ASX 200 airline today?
What are ASX 200 investors considering?
With no fresh price-sensitive news out today, the Qantas share price looks to be benefitting from some residual tailwinds relating to the company's response yesterday to allegations by the Australian Competition and Consumer Commission (ACCC) in August.
One of the thornier issues is that during the hectic months following the lifting of COVID travel restrictions, Qantas continued to sell tickets to flights that had been cancelled for longer than 48 hours.
Management acknowledged the delays, adding, "We sincerely regret that this occurred."
However, investors might be taking note that management added this did not "equate to Qantas obtaining a 'fee for no service' because customers were re-accommodated on other flights as close as possible to their original time or offered a full refund".
Clearly, Qantas does not intend to accept the ACCC's allegations without some clarifying context.
Qantas share price snapshot
The Qantas share price has some ways to go before recouping the past three months of selling action, with shares still down 17% year to date.
