Matt O'Sullivan

Matt O'Sullivan

Matt O'Sullivan is a Business Reporter for The Sydney Morning Herald.

Aviation

Qantas benefits from third straight month of yield rise

Matt O'Sullivan Qantas has reported its third consecutive month of growth in yields – or return on fares – as it benefits from a truce in the capacity war with Virgin Australia.

Siege

Sydney siege: Business disruption as thousands of office workers evacuated or locked down

Police have evacuated the area around Martin Place in Sydney's CBD.

Matt O'Sullivan and Clancy Yeates Thousands of white-collar workers from some of Australia's biggest financial institutions have been evacuated from buildings in Sydney's CBD or told to stay inside as a siege takes place in the...

Aviation

Qantas unveils big management reshuffle

As part of its efforts to return to profitability, Qantas is in the midst of removing $2 billion in costs.

Matt O'Sullivan Qantas has made one of the biggest reshuffles of its senior executive team in years, which has resulted in the departures of both the chief executives of its international and domestic operations.

Aviation

Virgin gets boost from Air New Zealand alliance

The trans-Tasman market has become dominated by two major alliances in Virgin-Air New Zealand and Qantas-Emirates.

Matt O'Sullivan Virgin Australia’s earnings performance on hotly contested routes between Australia and New Zealand has shown signs of an uplift as it benefits from its alliance with Air New Zealand.

Jetstar pilots join Qantas colleagues in spurning pay deal

Jetstar pilots had been asked to take an 18-month wage freeze.

Matt O'Sullivan Jetstar pilots have joined their counterparts at Qantas in almost unanimously rejecting a proposed pay deal, raising the prospect of a protracted dispute between management and a key part of the...

Aviation

Travellers snap up half-price business tickets on Singapore Airlines after computer error

A steal: some lucky travellers will be able to enjoy business class perks at economy-class prices.

Matt O'Sullivan Christmas has arrived early for hundreds of travellers after Singapore Airlines mistakenly sold business tickets to London for about half price.

Eco

Petrol prices surged by over 9 per cent this year, but relief is coming: ACCC

The average retail price for regular unleaded petrol in the country's five largest cities was 150.6 cents per litre in the 2013-14 financial year – a 9.3 cent increase on the previous year.

Matt O'Sullivan Motorists were slugged the third-highest prices on record for filling up at the bowser this year, a report from the competition watchdog has found.

Energy stock plunge creates headache for economy

The sharemarket is poised for further falls amid rising investor fears about growth.

Max Mason, Matt O'Sullivan and Vesna Poljak A rout in global oil prices has accelerated a big selloff in energy stocks and wiped $53 billion from the Australian sharemarket in just two trading days.

Aviation

Perth relying on foreign airlines, says Tourism Western Australia

Matt O'Sullivan Perth needs the federal government to make it easier for foreign airlines to fly to the city in the wake of Qantas reducing international services, WA's tourism body says.

Aviation

Qantas shares surge amid plunge in fuel prices

Flying higher: Qantas shares surged as much as 11 per cent on Monday.

Matt O'Sullivan Qantas shares have broken through the $2-mark for the first time in more than three years as a major slump in oil prices bolster investors’ enthusiasm for airline stocks worldwide.

Aviation

Qantas injects more millions into Jetstar Japan

Qantas and Japan Airlines will each make a 5.5 billion yen ($57 million) equity injection into the low cost carrier.

Matt O'Sullivan Qantas has made its second capital injection into loss-making budget airline Jetstar Japan in just over a year, in an effort to bolster its finances ahead of it starting international flying early...

Aviation

Frequent flyers hit as airline surcharges fly high despite slump in fuel prices

Emirates and Qantas

Matt O'Sullivan Qantas and Emirates have kept their fuel surcharges on international flights intact, despite a 25 per cent fall in jet fuel prices since the start of the year.

Aviation

Webjet warns leisure travel remains weak

Webjet logo.

Matt O'Sullivan The owner of Zuji has cautioned investors that it expects the domestic leisure travel market to remain flat for the rest of this financial year, echoing sentiment from the country’s largest...

Aviation

Qantas marketing chief Tim McColl Jones resigns after 'feels like home' campaign launch

Qantas' sentimental 'Feels like home' campaign is the airline's biggest since 2012.

Matt O'Sullivan Qantas’ well-regarded executive manager of brand and marketing, Tim McColl Jones, has quit after just a year in the job and having overseen one of the airline’s biggest branding campaigns...

Aviation

Virgin forecasts clearer skies ahead as capacity war with Qantas, Jetstar eases

Flying higher: The take-home pay for Virgin boss John Borghetti totalled almost $2.78 million this year.

Matt O'Sullivan Virgin Australia expects to post a pre-tax profit in the second-quarter of this financial year as the capacity war with Qantas and Jetstar eases in the domestic market eases.

Aviation

Virgin Australia and Singapore Airlines set flight path for stronger frequent-flyer ties

Flyer reward: Velocity chief executive Neil Thompson is targeting 7 million loyalty program members by 2017.

Matt O'Sullivan In a bid to challenge Qantas for a greater share of the corporate travel market, members from the Virgin Australia and Singapore Airlines loyalty programs will be able to covert their Velocity points...

Media

Rupert Murdoch's News Corp cops major investor revolt

Grip slipping: News Corp chairman Rupert Murdoch

Colin Kruger and Matt O'Sullivan Rupert Murdoch narrowly avoided losing control of his publishing empire after his key Saudi billionaire backer appeared to have joined a revolt against the family’s minority control of News...

Brisbane West Wellcamp airport builders Wagners have infrastructure advice for Tony Abbott

John Wagner believes private enterprise needs to be allowed to get on with building new infrastructure.

Matt O'Sullivan The wealthy Queensland family which has built the first major airport in Australia in almost half a century has some simple advice for the prime minister.

Aviation

Virgin raises $344m in first corporate bond issue

Virgin did not use aircraft as security in its first public bond issue.

Matt O'Sullivan and Jonathan Shapiro Virgin Australia has raised $US300 million ($344 million) from its first corporate bond issue to global investors.

Aviation

Virgin boosts ability to tap foreign capital markets

Virgin

Matt O'Sullivan Virgin Australia is on the cusp of returning to overseas capital markets in a further effort to diversify its funding after one of the big-two ratings agencies assigned the airline its first public...