Australia&#39;s aviation market set for change after failed Qantas bid
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Australia&#39;s aviation market is facing major changes in the wake of a failed takeover bid for Qantas, analysts say, with major fleet expansions and aggressive newcomer Tiger Airways starting flights this year.
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British Airways has completed the sale of its stake in Qantas Airways Ltd, with shares in the Australian carrier to resume trading on the stock market on Thursday.
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SYDNEY, Australia -- Australian authorities Tuesday approved a proposed alliance between Qantas and Air New Zealand - but the decision came too late for the airlines as the New Zealand High Court last month rejected the tie-up.
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Air New Zealand and Qantas will try to find new ways of working together to reduce costs, after the High Court upheld a Commerce Commission decision not to allow an alliance between the two.
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SYDNEY: Australian flag-carrier Qantas said it was disappointed a proposed alliance with Air New Zealand had been rejected by New Zealand&#39;s High Court but ruled out appealing the decision.
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AN Australian tribunal today gave the green light to a proposed alliance between Qantas Airways Ltd and Air New Zealand Ltd, even though the airlines are no longer able to pursue the tie-up the way they had planned.
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Barring negative impacts on the aviation industry, such as global terrorism, Australia&#39;s flagship carrier had an upbeat future, Qantas&#39; chief executive Geoff Dixon said.
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Qantas Airways, the Australian carrier, rejected an $8.6 billion takeover bid led by Macquarie Bank of Australia and the American equity firm, the Texas Pacific Group. Qantas said it had received a nonbinding proposal, but that the terms were ânot acceptable.â Qantas confirmed in November that it received a takeover proposal from Macquarie Bank and Texas Pacific.
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Australian flag-carrier Qantas said it was disappointed a proposed alliance with Air New Zealand had been rejected by New Zealand's High Court but ruled out appealing the decision.
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Qantas Airways Ltd and Air New Zealand Ltd have abandoned their proposed alliance in its current form after it was stymied by New Zealand authorities.
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VIRGIN Blue will dump its Sydney to Canberra service from the beginning of next month, blaming a Qantas stranglehold on government travel and poor bookings.
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The company has been rebuffed in Australia as it tries to grow.
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LONDON : British Airways (BA) said it would sell its 1.1 billion Australian dollar (770 million US) stake in Australia&#39;s Qantas in a move seen as likely to fuel a major realignment of airline alliances.
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QANTAS Airways Ltd said today it has requested a trading halt be lifted immediately after British Airways completed the bookbuild process for the sale of its 18.
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British Airways has sold its A$1.1 billion (431 million pounds) stake in Australia&#39;s Qantas Airways to Australian and international investors, helping push up Qantas shares by over 2 percent.
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QANTAS is suffering an unexpected softening in passenger demand, particularly on international routes, as the impact of the rising global oil price starts to strike consumer spending.
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An aviation analyst believes Air New Zealand and Qantas will amend their bid to form an alliance and work instead on sharing resources.