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QF linked to Network Aviation buyout

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QF linked to Network Aviation buyout

Old 6th Oct 2010, 11:20
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QF linked to Network Aviation buyout

Interesting if this goes ahead...XR will have something to worry about one would think, with the oncarriage and FF opportunities this could bring for some of the minesites...

Qantas to buy Network Aviation?
Item by australianaviation.com.au at 11:27 am, Tuesday October 5 2010

A Network Fokker 100. (Les Bushell)
Qantas is reportedly in final negotiations to buy out WA charter carrier Network Aviation to gain greater access to the resource charter market.
According to the Australian Financial Review, Network’s board met last week to consider the $30 million plus takeover offer. The newspaper did not name a source, but claims that at that price that it would be equal to approximately six times the company’s earnings before interest and tax for 2010. Qantas has yet to confirm the negotiations or rumoured price, and is not expected to do so until a firm agreement has been reached.
Network operates a fleet of nine aircraft including three Fokker 100 jets which operate solely on contract charter services. Australian Aviation understands that it is majority owned by the family of managing director Lindsay Evans.
If confirmed, the acquisition would give Qantas a greater foothold in the WA resource charter market which has been dominated in recent years by Skywest, Alliance Airlines and Cobham Aviation Services. It could also form a part of Qantas’s bid to operate RPT turboprop intrastate services under the new aviation framework put forward by the WA state government in previous months.
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Old 6th Oct 2010, 13:03
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And from today's The West Australian


Qantas set to nab Network Aviation
RACHEL DONKIN, The West Australian October 6, 2010, 6:26 am

WA's aviation industry appears poised to lose one of its few remaining independent operators, with Qantas in friendly takeover discussions with the owners of the State's third-biggest regional airline, Network Aviation.

Network Aviation's fleet is three 100-seat Fokker 100 jets and six 30-seat Embraer Brasilia turboprops, and it offers general charter and fly-in, fly-out services. According to the airline's website, it operates fixed-flight schedules to Fortescue's Cloudbreak mine and Aditya Birla's Nifty copper project in the East Pilbara.

A spokesman for Qantas yesterday confirmed the parties were in "commercial in-confidence" negotiations over a possible takeover, but refused to disclose details of the offer. Network managing director Lindsay Evans also declined to comment other than to confirm his company was in "amicable" discussions with Qantas.

But reports have put Qantas' offer at more than $30 million, which would mean a windfall for Mr Evans and his partners.

The media-shy Mr Evans, who left charter airline Skippers Aviation to establish Network in 1998, owns 49.9 per cent of Network Aviation Pty Ltd. Subiaco-based commercial lawyer Nick Murfett and former VDM Group chief operating officer Stuart Cuthbert each hold a 25.05 per cent.

If the deal goes ahead, Qantas will gain ownership of WA's third-biggest regional airline as demand for fly-in, fly-out services mounts by the day.

The State Government has also put several previously protected regional routes to tender and has flagged plans to deregulate the Geraldton route.

Qantas has previously confirmed it has tendered for routes to Albany, Esperance and Exmouth. It already operates services to WA resources hubs such as Kalgoorlie, Karratha and Port Hedland through its regional carrier QantasLink.

Skywest, the biggest regional player in WA, has also signalled its intention to snare a bigger slice of the regional market.

It told shareholders at its interim results presentation in February that it was actively scouting for more fly-in, fly-out contracts with the State's major resources players.
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Old 7th Oct 2010, 06:25
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Three Fokker 100s? More like two and a christmas tree.
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