Qantas takeover bid

[KeithMEL]

It would seem that opponents of the takeover might have gone a touch too far...

http://www.theaustralian.news.com.au...-23349,00.html

Steward sacked in sabotage probe
December 23, 2006

QANTAS has sacked a flight attendant for allegedly stuffing blankets down toilets on a number of international flights.
The airline also claims the man tampered with phones used by crew to communicate with each other.

Qantas has refused to comment on the matter, but AAP understands a male flight attendant has been sacked and will be taking his case to the Australian Industrial Relations Commission.

It is also believed that the Australian Federal Police has been called in to investigate the matter.

Lawyers for the man have told him not to co-operate with police beyond a basic interview. One incident is said to have occurred onboard a Boeing 747 en route from Sydney to Los Angeles.

The jumbo was grounded for 24 hours while engineers fixed the toilet.

The alleged incident has been linked to an ongoing industrial relations campaign by Qantas staff, which has elevated in recent weeks following the planned privatisation of the airline by private equity consortium Airline Partners Australia.

<snip>

[globetrekker84]

I'd love to know what was going through his mind when he was stuffing those blankets down the toilets. Like that was going to make the privatisation go away.

Note to self: don't use QF blankets.

[KeithMEL]

I'd love to know what was going through his mind when he was stuffing those blankets down the toilets. Like that was going to make the privatisation go away.

Note to self: don't use QF blankets.

Note the use of the operative word 'alleged.'

[globetrekker84]

Note the use of the operative word 'alleged.'

Okay...I'd love to know what was going through his mind IF he was stuffing those blankets down the toilets. Like that was going to make the privatisation go away.

Note to self: don't use QF blankets.

[KeithMEL]

Canberra has okayed the sale of Qantas, with very strict conditions imposed:

http://www.theage.com.au/news/busine...156494832.html

[KeithMEL]

Looks like it's happening. Despite still having concerns about the sale even after the deed of undertaking the bidders signed off on, this is certainly very elegant manouvering. The Machiavelli in me is inclined to take my cap off to them.

http://www.theage.com.au/news/busine...971249577.html

Qantas bid cleared for take off

SCOTT ROCHFORT, DANNY JOHN
April 12, 2007 - 3:35PM

The private equity buyout of Qantas looks all but certain to succeed, with the bidder, Airline Partners Australia, signing a deal with bankers that will remove one the last remaining hurdles to it acquiring the business.

The previous agreement with its banks would only allow APA to go ahead with the $11.1 billion deal if it received acceptances to acquire 90 per cent of the airline's shares. APA would then be allowed to acquire the minority shares.

The APA board announced this afternoon that it has signed off on a deal which will lower the condition of the consortium having to snare 90 per cent of the national carrier to 70 per cent.

This will allow the Macquarie Bank and Texas Pacific-led group to sidestep two large shareholders holding out for a higher bid.

...

Under the new deal, which the Herald first revealed on Saturday, the $7.6 billion debt package that was originally tied to Qantas's planes and other assets will be secured against the shares in the APA bidding company.

...

Hot stuff! (in reference to the APA machination, not the actual sale)

[Singapore Airlines]

Isn't that SIA wants to become the world's leading airline so SIA bougth 49% share of Virgin Atlantic?

[Greatfox]

at least this means the Australian Government has no excuse to protect QANTAS any more now that it's part-owned by an American company

[KeithMEL]

at least this means the Australian Government has no excuse to protect QANTAS any more now that it's part-owned by an American company

It's not over yet. The final result of the bid will be very close though.

[UMD]

The latest news tonight is that the APA bid for Qantas has failed. Expect some changes in the management team.

I am actually glad that it is not sold. I can't believe a deal that borrow heavily against the airline's asset will be good for Qantas. But then again, I may be wrong since I am no investor.

[KeithMEL]

The latest news tonight is that the APA bid for Qantas has failed.

Which thus makes the entire episode 1 of the biggest non-events in aviation history...

[Lobster]

It seems like it might be on again now

http://news.bbc.co.uk/2/hi/business/6627391.stm

[KeithMEL]

All starting to sound very farcical:

http://www.theage.com.au/news/nation...788470586.html

[token01]

well the late bid pushing it over the required 50% came in a couple hours late.... from an extreme SQ loyalty view and pushing aside im a auzzie - i hope it goes through finally letting me fly SQ direct to US instead of going to SIN first... it will go through im sure privatization of this is needed

[UMD]

well the late bid pushing it over the required 50% came in a couple hours late.... from an extreme SQ loyalty view and pushing aside im a auzzie - i hope it goes through finally letting me fly SQ direct to US instead of going to SIN first... it will go through im sure privatization of this is needed

Even if it goes through, there is no guarantee that the Australaian government will let SQ fly that route.