Originally Posted by
MickG0105
As to Australia Airlines, they were acquired by Qantas for $400 million back in September 1992.
Yes, that is what Qantas had to pay & it was quite a premium. SQ had done due diligence on buying TN and they found that, following the '89 domestic Pilot's Dispute, TN was in a poor financial position so they offered $115M for it. The Federal Government (Labor) wanted $400M for their coffers and Qantas was the only company prepared to pay such a premium because they wanted to have the rights to fly domestically (prohibited under the two airline AN & TN agreement). Qantas, of course was still government owned at the time so it was one government company paying a premium for another.
markontop, your recollection of the events surrounding AN seems to be different to mine, & many others.