Qantas has terminated its planned takeover of ASX-listed Alliance Aviation, six months after the consumer watchdog blocked the $614 million deal.
Qantas has officially terminated its planned takeover of fly-in, fly-out charter service Alliance Aviation six months after the competition watchdog opposed the deal.
Qantas has owned a 20 per cent stake in the Brisbane operation since 2019 and moved in April 2022 to purchase the remaining 80 per cent in a deal in which Alliance shareholders receive Qantas shares worth $4.75 for each Alliance share they hold.of fly-in, fly-out operator National Jet Express was approved in September 2022, less than two weeks after it flagged the proposed deal.
The watchdog denied Virgin Australia’s attempted renewal of its partnership with Alliance, which previously allowed the two airlines to co-ordinate and tender for flights in Queensland and the Northern Territory.as passengers may face higher airfares and fewer services on the Sydney to Shanghai route if the airlines were allowed to continue working together.
As it stands, China Eastern is the only carrier servicing the route but Qantas will restart its own flights at the end of this month.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Qantas scraps $614 million Alliance takeover after competition watchdog rejectionQantas has terminated its planned takeover of ASX-listed Alliance Aviation, six months after the consumer watchdog blocked the $614 million deal.
Read more »
ASX: QAN: Proxy firm Ownership Matters tells Qantas investors to vote against Todd SampsonMarketing guru Todd Sampson is the next Qantas director who could feel the ire of shareholders at the company’s annual meeting next month.
Read more »
ASX 200 LIVE: ASX to open higher, S&P 500 slips, Bullock chat, China dataAustralian shares are set for a modest opening advance. Two RBA speeches early, China GDP at 1pm. REA Group in focus. Follow updates here.
Read more »
ASX 200 LIVE: ASX to drop as risks drive oil, global bond yields higherAustralian shares are set to drop 1.2pc. Wall Street slides as Middle East tensions heighten. It’s jobs data day. Follow updates here.
Read more »
Australian Shareholders’ Association calls for ASX chairman Damian Roche to step down within a yearThe Australian Shareholders Association wants ASX chairman Damian Roche to commit to a succession plan and threatens to vote against his re-election at the AGM.
Read more »
Qantas hangover a headache for directors on other boardsIf Telstra is the warm-up for the big Qantas AGM event next month, chairman Richard Goyder will be bracing for impact.
Read more »