Should I buy CBA and Qantas shares this month?

May is now underway, and I think it is a good time to look at a couple of ASX 200 shares that could be worth buying for the long term.

The market has been shifting around quickly, with some sectors under pressure and others still trading strongly. In that kind of environment, I like looking for businesses with clear strengths and enough quality to hold through different conditions.

Two ASX shares I would be happy to buy this month are Commonwealth Bank of Australia (ASX: CBA) and Qantas Airways Ltd (ASX: QAN).

CBA shares

Commonwealth Bank is one of the highest-quality businesses on the ASX, in my view.

It is the largest bank in Australia and has a powerful position across mortgages, deposits, business banking, and digital banking. That scale gives it advantages that smaller competitors can struggle to match.

One thing I like about CBA is the consistency of its customer franchise. The bank has spent years investing in its technology and app experience, and I think that has helped it maintain a strong connection with customers.

This is important because banking can be a fairly competitive industry. Customers can move, pricing can be tight, and margins can shift. But CBA's brand, distribution, and digital strength give it a good platform to defend its position.

Another reason I would consider buying CBA shares is income.

The bank has long been popular with dividend investors, and I think it remains one of the more reliable dividend payers on the ASX. The dividend yield may not always be the highest among the major banks, especially when the share price is strong, but I believe the quality of the business helps justify that.

I also think CBA can benefit from a resilient Australian economy. If employment remains solid and credit quality holds up reasonably well, the bank should remain in a strong position to generate profits and return capital to shareholders over time.

Qantas shares

Qantas is another ASX share I would consider in May.

It certainly isn't risk-free. The airline industry can be affected by fuel costs, competition, regulation, and economic cycles. Even so, I think Qantas has a few things working in its favour.

The domestic market remains highly valuable, and Qantas has a strong position across both leisure and corporate travel. Its loyalty program also adds something different to the investment case. It gives the company a recurring, data-rich earnings stream that is not tied purely to seat sales.

I also think the fleet renewal story is important. Newer aircraft can improve efficiency, customer experience, and route flexibility. That can help Qantas strengthen its network over time and support better returns if management executes well.

There is also the broader travel backdrop to consider. Australians continue to value travel highly, and Qantas remains one of the country's most recognised brands. If demand holds up, I think the business can keep generating solid cash flow.

The share price can be sensitive to oil prices and travel sentiment, so I would expect some volatility along the way. However, I believe the business has more going for it than many investors give it credit for.

Foolish Takeaway

So, should I buy CBA and Qantas shares this month?

For me, the answer is yes.

CBA offers quality, scale, dividends, and one of the strongest banking franchises in the country. Qantas offers exposure to travel demand, a valuable loyalty business, and potential benefits from fleet renewal.

They are very different, but I think both have enough long-term appeal to be worth considering in May.