Qantas Group currently reviewing 46% stake in Air Pacific

Qantas Group confirmed it is currently reviewing its 46% stake in Air Pacific and is in talks with the Fijian Government over the possibility of selling its stake (The Australian, 09-Sep-09). The possible sale comes as the Group plans to launch Jetstar services to Fiji and focus on its core business amid the global financial downturn. Qantas stated it has developed a plan with the government for the sale, but still needs to make an agreement on valuation procedures, including a continuation of commercial agreements between Qantas and Air Pacific.