Australian bank invests in Impulse Airlines - National Australia Bank - Brief Article

Airline Industry Information, June 9, 2000

AIRLINE INDUSTRY INFORMATION-(C)1997-2000 M2 COMMUNICATIONS LTD

The National Australia Bank (NAB) has taken an undisclosed equity stake in new Australian domestic carrier Impulse Airlines.

The investment was made through the NAB's fund management unit National Australia Asset Management Ltd and apparently sees the carrier valued at AUD100m according to the Australian Associated Press.

Other institutional investors in the privately-owned carrier include AMP Ltd, Arabian Gulf Investments, GIC Special Investments of Singapore and CVC Asia-Pacific Ltd. A 40% share is held by the founders of the company

Impulse Airlines commenced services between Sydney, Melbourne and Canberra on 5 June in a new low-cost challenge to establish Australian carriers Ansett and Qantas.

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