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Qantas Group abandons takeover bid for Alliance Aviation
October 20th 2023
Qantas Group has walked away from its takeover attempt of Alliance Aviation Services six months after Australia's competition regulator rejected the proposed transaction. Read More » Despite withdrawing the bid, Qantas is retaining its 19.9% equity in the regional and charter operator and also expanding its long-term wet lease agreement. “Both companies believe the acquisition would have created customer value without lessening competition in the highly competitive resources sector, particularly from the efficiencies created by a combined fleet of F100 aircraft,” Qantas said in a regulatory filing. “However, both companies acknowledge there is no reasonable path forward for the deal at present.” The airline group has exercised options for four more airplanes to be operated by Alliance on its behalf under the wet lease agreement that lifts the total aircraft operating under the agreement to 26 E190s.
