Qantas takes 19.9% stake in Alliance Airlines, eyes control
Qantas has signalled that it intends to take a majority stake Alliance Airlines, having acquired a 19.9% stake in the Brisbane-headquartered operator. The carrier states that the stake was acquired at a total cost of A$60m (US$43.6m). “Qantas expects to ultimately seek regulatory approval from the [Australian Competition and Consumer Commission] to build on its current shareholding, with a longer-term view of taking a majority position in Alliance Airlines in order to better serve the charter market by unlocking synergies,” it adds. In the meantime, Qantas says it is taking a “business as usual” approach to the carrier, and will not seek any board seats. The move appears to have come as a surprise to Alliance, with the airline stating that its board “has not received any approach from Qantas” at the time of the announcement. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-02-01/oneworld/qantas-takes-19-9-stake-in-alliance-airlines-eyes-control
https://portal.staralliance.com/cms/logo.png
Qantas takes 19.9% stake in Alliance Airlines, eyes control
Qantas has signalled that it intends to take a majority stake Alliance Airlines, having acquired a 19.9% stake in the Brisbane-headquartered operator. The carrier states that the stake was acquired at a total cost of A$60m (US$43.6m). “Qantas expects to ultimately seek regulatory approval from the [Australian Competition and Consumer Commission] to build on its current shareholding, with a longer-term view of taking a majority position in Alliance Airlines in order to better serve the charter market by unlocking synergies,” it adds. In the meantime, Qantas says it is taking a “business as usual” approach to the carrier, and will not seek any board seats. The move appears to have come as a surprise to Alliance, with the airline stating that its board “has not received any approach from Qantas” at the time of the announcement. <br/>
