Press: Qantas staff may buy shares with pilots

19th Dec 2006

Unions representing Qantas Airways staff will consider a plan to join the pilots in buying a stake in the airline as part of an attempt to block an AUS$11.1 billion takeover by a Macquarie Bank-led consortium, the Sydney Morning Herald reported, citing union sources. It said about 12 unions will discuss the idea of buying a “blocking stake” as one option for dealing with the planned sale which is conditional on 90 pct acceptance, a level needed to acquire all outstanding shares.

The Australian and International Pilots Association has said its 2,500 members will invest 50,000 aud each to buy 1 pct of the airline if it will help stop a compulsory acquisition.

The newspaper said unions will encourage people to hold on to their stocks instead of accepting the 5.60 aud-per-share offer, because it fears the Airline Partners Australia consortium will cut jobs and send work offshore.

Qantas was voted Australasia’s Leading Airline at this year’s World Travel Awards.



Recommended for you

Follow Breaking Travel News

Travel Events Calendar

Media Partnerships

Global Restaurant Investment ForumThe Hospitality & Tourism SummitCATHIC
ITB AsiaChina Outbound Travel & Tourism MarketThe Travel Marketing Store
Serviced Apartment SummitWorld Travel MarketIMEX
AHICWTTCRoutes Online
UBM Aviation