🖤 Donations of all sizes power our public service journalism Give Now

Qantas turns on a dime

Scott Jagow Dec 14, 2006
HTML EMBED:
COPY

Qantas turns on a dime

Scott Jagow Dec 14, 2006
HTML EMBED:
COPY

TEXT OF STORY

SCOTT JAGOW: Yesterday we told Australia’s Qantas turned down two private equity firms that wanted to buy the airline.

Well, that was yesterday. Today, Qantas accepted a bid that was sweetened a little bit.

Mark Pilling of Airline Business Magazine believes this could spark a wave of airline mergers over the next six months.

MARK PILLING: The airline industry’s been crying out for freedom to consolidate for years and it’s often prevented by government and national ownership restrictions. So this is not a case of the airline industry being behind the demand curve, because it wants to consolidate.

The $8.6 billion Qantas deal is one of the biggest corporate takeovers in Australian history.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.