The AFR 05/10/10- 'understands' that QF are 'in the final stages of negotiations for an agreed purchase....'- no ASX announcement yet.
Quote based on the AFR article- ex the Business Spectator website:
Qantas to buy WA charter airline: report
Published 7:01 AM, 5 Oct 2010
QUICK SUMMARY | FULL STORY
Qantas is hoping to extend its presence in the lucrative charter flight market in Western Australia by acquiring one of the major airlines offering services to fly-in, fly-out mining sector workers,
The Australian Financial Review reports.
The national carrier is in the final stages of negotiations to buy WA-based Network Aviation, which runs chartered flights to mining communities across the state, the newspaper says in an unsourced report.
Network Aviation's board met on Friday to discuss the $30 million-plus takeover, which would see Qantas take on a fleet of nine aircraft and 150-odd employees, the report says.
The
AFR says the airline's price tag is equal to about six times 2010 financial year earnings before interest, tax, depreciation and amortisation.
Rgds
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