Three years ago, you could have bought Qantas shares for $5.31 apiece.
On Monday, shares were changing hands for $8.80 each.
Meaning the 1,883 shares you bought on 22 September 2023 are worth $16,570 today.
As you may recall, Qantas suspended its dividend payouts in 2020 after the global pandemic slammed the door on air travel and saw Qantas' profits dry up. As COVID came under control and air travel lifted off again, Qantas recommenced its twice-yearly dividend payments, starting in April 2025.
If you'd owned Qantas shares for the last three years, you would have received the past four dividend payments, totalling 92.4 cents a share.
Air New Zealand has had a time of it since 2023.
Now Air New Zealand also suspended its dividend payments in 2020, resuming them in 2023.
Adding that back to the recent share price, the accumulated value of the Air New Zealand shares bought on 22 September 2023 for $10,000 is now $5,544.
Which makes Qantas shares the winner in the three-year returns delivered from the two ASX airline stocks.