An airline bid down under
The tail of a Qantas jet at Sydney Airport
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SCOTT JAGOW: For the second time in a week, we have a possible airline takeover to tell you about. Australia's Qantas, says two investment firms wanna buy the airline for $8.5 billion.
That's about the same price US Airways offered for bankrupt Delta last week, but unlike Delta, Qantas is fairly healthy says Nicholas Ionides of Air Transport Intelligence.
NICHOLAS IONIDES: Qantas is an airline that's considered to be very well managed. As many airlines in the world are losing money, it's making decent money. Decent by airline standards which is not good from many other industries.
One of the investment firms making a bid for Quantas is Texas Pacific Group. That's the company that rescued Continental back in 1993.