Qantas Airways Ltd (ASX: QAN) shares are losing altitude today.
Shares in the S&P/ASX 200 Index (ASX: XJO) airline closed yesterday trading for $11.04. In early afternoon trade on Thursday, shares are changing hands for $10.93 apiece, down 1.0%.
For some context, the ASX 200 is down 0.2% at this same time.
Today's underperformance is far from the norm for the Qantas stock.
Despite today's dip, Qantas shares remain up a very impressive 82.9% since this time last year. And that's not including the 26.4 cents per share fully franked final dividend the company paid eligible stockholders on 16 April.
Indeed, the past year's performance has been a far cry from the struggles the Flying Kangaroo endured following the COVID pandemic reopening.
As you may recall, the airline faced headwinds from a range of issues, including various legal entanglements, lengthy flight delays, and a big spike in lost luggage as it ramped back up towards full capacity.
Since then, flight times have greatly improved, many of the legal issues have been addressed, and, as Qantas reported yesterday, it's now launching a trackable baggage program.
Here's what's happening.
Image source: Getty Images
Qantas shares aim to shake off lost luggage woes
In a move that could support Qantas shares longer term as fewer passengers are left searching for missing suitcases, the airline said it is collaborating with luggage brand July to roll out an "industry-leading" trackable luggage program.
According to the release, the new Qantas x July collection features July's CaseSafe tracking technology integrated into the TSA lock system of their suitcases.
Passengers can then monitor their luggage while underway with Apple's Find My network or Google's Find Hub.
"We know our customers want to have access to leading technology and the latest information about their flight at their fingertips," Qantas chief customer and digital officer Catriona Larritt said.
"By seamlessly connecting the July baggage to Apple and Google networks, our customers will have enhanced visibility of their baggage from departure to arrival," she said.
Larritt added:
This partnership complements our existing baggage tracking features and follows upgrades to the Qantas app, including the introduction of the Australian Travel Declaration, as we continue to work to enhance the digital travel experience.
Commenting on the partnership that could help insulate Qantas shares from major lost baggage issues, July co-founder Athan Didaskalou said:
This built in tracking technology allows travellers to set and forget – knowing that their luggage is always tracked and connected through every step of their journey gives them complete peace of mind.
