Australian flag carrier Qantas has agreed to acquire the remaining 80% stake that it does not already own in Alliance Aviation Services in an all-scrip deal. The latest deal will see Alliance become a wholly-owned part of Qantas.
An Australian-based operator with a fleet of 70 jet aircraft, with a seating capacity of 100 each, Alliance constitutes 2% of the domestic airline market. Qantas will issue nearly $444m (A$614m) of new shares to buy the remaining Alliance stake.
