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Quantas Airlines in trouble....


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#1 WreckWench

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Posted 13 June 2012 - 12:58 PM

13 June 2012
British Airline's boss says the weak will fail



The decision by Qantas to shore up its defences by employing Macquarie to keep an eye on its share register is an interesting choice, analysts say.

Macquarie was the lead financier in Airline Partners Australia, the consortium that came within a whisker of taking over Qantas in 2007.

Qantas hit a low of 96 cents last Friday, valuing the company at $2.2 billion. The APA bid was $11.1 billion.

The share price lifted to $1.10 on Tuesday but Qantas appears vulnerable - not to a takeover, which is protected by government regulation, but to the presence of an unwanted shareholder lurking in the shadows.

Certainly competitors appear to be sniffing an opportunity to link more closely with the airline.

Tim Clark, president of Emirates Airlines, said in a Bloomberg Television interview during the IATA summit in Beijing that he would be interested in a commercial link with Qantas.

He reportedly denied an interest in an equity stake.

A link between International Consolidated Airlines Group SA - parent of British Airways and Spain's Iberia - and Qantas would also make sense, IAG chief executive Willie Walsh said at the Beijing conference.

The two airlines already cooperate on certain routes but the Walsh went on to say that he was no longer interested in mergers and would prefer instead to see consolidation through attrition.

"I think, from an overall industry point of view, the time has come for a proper cleanout. You can say that's very cold and heartless, but we're in business and the reality is that the weak fail," Walsh said.

Walsh several years ago tried to merge BA with Qantas in a deal valued at about $6.5 billion, but the two companies couldn't agree on a valuation.

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#2 drbill

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Posted 09 July 2012 - 10:03 AM

If they are still flying those ancient 747s, maybe fuel costs are a big part of the reason. A shame, of course, but there are other carriers that serve Down Under (at least from "Lost" Angeles).




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