Could the grounded Qantas (ASX:QAN) share price take off in May?

It was one step forward and two steps back for the Qantas Group Ltd (ASX: QAN) share price in April. Shares in the airline finished the month 3% lower, with the market seemingly unphased by its positive business update on 15 April.

The Qantas share price is at a standstill as domestic capacity is expected to surpass pre-COVID levels while vaccine delays continue to delay the topic of international travel.

Qantas shares have seemingly gone nowhere since a 10% jump to $5.20 on 10 November 2020. This was driven by the initial trial results for the Pfizer vaccine which showed an efficacy rate of more than 90%. 

At the time of writing, the…