Qantas Airways Acquires Remaining 80% Stake In Alliance Aviation For $443M: Reuters

• Australia’s Qantas Airways (OTC:QABSY) said it is acquiring the remaining 80% stake in Alliance Aviation Services for A$610.8 million ($443.14 million) in an all-stock deal, Reuters reported.
• The acquisition is expected to expand Qantas’ presence in the charter business.
• The airways will make use of the increased activity in the mining sector after reopening international borders to serve customers.
• Alliance investors will get A$4.75 per share, a more than 35% premium to the stock’s last close.
• “The resources sector continues to grow, and any new tender for airline services will be very competitive,” said CEO Alan Joyce.
• Qantas had purchased a 19.9% stake in Alliance in 2019.
• Photo via wikimedia Commons