Qantas worth an extra $6 billion says Macquarie research

Macquarie research has rated Qantas as one of its most attractive potential private equity targets saying Qantas' ‘potential share price' under a private equity bid could be worth as high as $8.57 or $3.12 more than the failed Airline Partners Australia's (APA) $5.45 a share offer. Macquarie also believe up to $2.82 a share could be returned to shareholders as a dividend or capital return due to Qantas carrying a relatively low level of debt. Goldman Sachs research has also valued the airline significantly higher than the APA offer, predicting the airline will post a maiden $1 billion profit net profit in 2008-09.