Qantas Airways Ltd. agreed to buy the rest of Australia’s Alliance Aviation Services Ltd. in a deal valuing the company at A$763 million ($553 million), gaining a fleet of small aircraft operating charter flights for the resources industry.
The deal values Alliance at A$4.75 a share, Qantas said in a statement Thursday. The stock closed Wednesday at A$3.51. Alliance shareholders will be paid in shares in Qantas, which already owns 20% of the company.
Alliance operates about 70 jets—Fokkers and Embraer 190s—that can each seat as many as 100 people. That makes them well suited for charter flights in Western Australia for mining companies including Fortescue Metals Group Ltd. and BHP Group Ltd.
Alliance shares soared 25% to A$4.38 at 10:54 a.m. in Sydney. Qantas fell 1.1% to A$5.61.
Qantas, which also owns Fokker aircraft, said Alliance has a large inventory of spare parts for the planes which will extend the working life of the two companies’ combined fleets.
Users of the Airblox marketplace can now access information on global air freight capacity in real timeView Article
Forwarders are ready to digitalize but need to better understand a demonstrated value proposition, Brandon Fried, Executive Director, Airforwarders Association (AfA) told delegates at the CNS Partnership Conference in Phoenix.View Article
A detailed report on the April 20 emergency evacuation of the US Capitol raises new questions about poor communication at a command post designed to ensure security in the skies…View Article
Qantas Airways Ltd. is pushing up fares and making deeper cuts to scheduled flights in Australia to offset months of higher fuel costs.View Article
Qantas Airways Ltd.’s pilots union has warned of looming risks to flight safety -- from crew fatigue to looser landing rules in Australia -- as a travel rebound stretches an…View Article
Industry updates and weekly newsletter direct to your inbox!