Here we go again as the vultures circle
Corporate raider Greg Woolley is leading a consortium of investors who plan to approach Qantas Airways and the federal government with a plan to buy the airline’s planes in a deal that could be worth more than $5 billion. Several European banks have expressed interest in providing debt for the venture, although Mr Woolley wants as much funding as possible to come from Australian sources.
The deal would mark the third tilt at Qantas by Mr Woolley, who helped found Allco Equity Partners in 2004 with the late David Coe. AEP was later part of the Airline Partners Australia consortium that failed in a $11 billion bid for Qantas in 2006. Mr Woolley and investors such as Mark Carnegie, John Singleton, Peter Gregg and Geoff Dixon bought shares in Qantas in 2012 and agitated for support for a major change in strategy at the airline. They later sold their shares for a considerable profit.
Corporate raiders circle ?junk? Qantas