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Bond Market News

Qantas Scraps Plan to Buy Alliance Aviation Amid Regulatory Hurdle

October 19, 2023

Corporates

Qantas Airways has confirmed scrapping the acquisition deal with Alliance Aviation Service, according to a statement released by the company. Australia’s competition regulator, i.e., Australian Competition and Consumer Commission (ACCC) was opposed to the deal and had blocked it in April 2023 after the companies had agreed to the deal in May 2022. However, Qantas Group will continue to retain nearly 20% shareholding of Alliance and will continue its long-term agreement with Alliance.

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