Company Watch - Qantas Airways

Apr 30, 2007

Qantas announced an agreement with State Capital Investment Corp., the investment holding arm of the Vietnamese government, to purchase 30% of Pacific Airlines, the country's second-largest carrier. Financial details were not disclosed on a deal first flagged by this website three months ago. Qantas CFO Peter Gregg said the transaction should be completed within the next two months, "supporting Jetstar's growth strategy and enabling us to extend our reach in Southeast Asia." QF will help Pacific develop a new business plan and grow its small 737-400 fleet used on domestic routes and to Taiwan. "Pacific Airlines' strategy is to reposition itself as a low-cost carrier and expand within Vietnam and internationally," Gregg said, with Jetstar playing a major role. Insiders suggest that Pacific will lease at least two 787s from Jetstar from 2009. Apr 27, 2007

In a desperate bid to gets its A$11.1 billion ($9.29 billion) buyout of Qantas off the ground, Airline Partners Australia announced over the weekend that the May 4 deadline will not be extended while repeating its warning that share prices will fall if its bid fails. Apr 24, 2007

Qantas Airways informed the Australian Stock Exchange in a Friday filing that shareholder acceptances to Airline Partners Australia's offer declined to 27.48% from 28.86% as institutional investors sold off shares held in an Institutional Acceptance Facility. The 28.86% figure represented a midweek decrease from 30.06%. Apr 23, 2007

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Apr 23, 2007

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