1-Feb-2019 11:18 AM

Qantas acquires 19.9% stake in Alliance Airlines, aiming to take majority holding long term

Qantas Group acquired (01-Feb-2019) a 19.9% shareholding in Alliance Airlines for total consideration of AUD60 million (USD43.78 million) at AUD2.40 (USD1.75) per share. "Alliance Airlines is a significant service provider to the resources sector, which continues to stimulate travel demand in Western Australia and Queensland in particular", Qantas stated, adding Alliance has proven to be a profitable and "well managed business with high levels of operational maturity". Qantas said it 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 holding in Alliance Airlines in order to "better serve the charter market by unlocking synergies". [more - original PR]

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