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Tue, 5 Feb 2019

Qantas Acquires 19.9% Stake in Alliance Airlines

The Qantas Group has acquired a 19.9% stake in the Australian-based charter operator, Alliance Airlines.

Alliance Airlines is a significant service provider to the resources sector, which continues to stimulate travel demand in Western Australia and Queensland in particular.

Alliance Airlines Fokker 100. Click to enlarge.

Alliance is a long-term provider to the Qantas Group and flies regional services on behalf of the national carrier.

The 19.9% stake was acquired for an average price of $2.40 per share and for a total cost of $60 million.

Qantas expects to ultimately seek regulatory approval from the ACCC 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.

In the meantime, Qantas said it is supportive of the ‘business as usual’ approach of Alliance Airlines management and is not seeking board representation.

See latest HD Video Interviews, Podcasts and other news regarding: Qantas, Alliance Airlines, Australia, Stake.

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