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BRIEF-Qantas Airways Notes ACCC's Statement On Co's Stake Held In Alliance Aviation Services

Published 01/08/2019, 10:17 am
Updated 01/08/2019, 10:20 am
© Reuters.  BRIEF-Qantas Airways Notes ACCC's Statement On Co's Stake Held In Alliance Aviation Services
QAN
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Aug 1 (Reuters) - Qantas Airways Ltd QAN.AX :

* NOTES ACCC'S RECENT STATEMENT ON 19.9% STAKE IT HAS HELD IN ALLIANCE AVIATION SERVICES LIMITED

* QANTAS HAS NO PLANS TO DECREASE ITS HOLDING IN ALLIANCE.

* DO NOT BELIEVE THERE IS ANY EVIDENCE OF A LESSENING OF COMPETITION AS A RESULT OF OUR MINORITY STAKE

* "HAVE NOT SOUGHT ANY MANAGEMENT CONTROL OR A BOARD SEAT AND REMAIN A PASSIVE INVESTOR IN ALLIANCE"

* "OUR CURRENT STAKE IS NOT CONTINGENT ON REACHING A MAJORITY POSITION"

* HAVE AGREED NOT TO EXPAND OUR SHAREHOLDING IN ALLIANCE WHILE ACCC CONTINUES ITS INVESTIGATION

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