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Australia: stop to the Qantas-Alliance Aviation deal

Decision following a negative opinion from the Sydney Competition Commission

The management of Australia's national airline, Qantas Airways, will abandon its acquisition of national charter operator Alliance Aviation Services. The value of the deal was 387 million dollars. The decision comes after the Australian Competition and Consumer Commission (ACCC) denied authorization for the acquisition in April, saying the deal would raise prices and lower the quality of service. 

The two companies had entered into the agreement in May 2022. Today Qantas and Alliance Aviation Services announced, in a joint statement, that the objective of the acquisition was to strengthen customer value, without negatively influencing competition in the sector of resources. The stop to trading caused the value of the national airline's stock to fall by -2.7% and that of the charter company by approximately -1%.

Gic - 1254403

AVIONEWS - World Aeronautical Press Agency