Qantas CEO Alan Joyce has sold shares worth $11 million after a three-day run of stock gains.
- Joyce sold 100,000 shares at A$110.50 per share, according to a regulatory filing.
- The sale comes as Qantas shares have been on a tear, rising by more than 20% in the past three days.
- The airline’s shares have been boosted by strong demand for travel, as well as by the government’s decision to scrap the fuel excise.
- Joyce has previously said that he does not plan to sell any more shares in Qantas.
- However, he has said that he may sell shares in the future if he believes that the stock is overvalued.
- Joyce’s sale of shares is likely to be seen as a vote of confidence in the future of Qantas.