Airline Affairs

Broker Urges Quick Qantas Sale:

Melbourne broker ANZ McCaughan is urging the float of much of Qantas as early as possible, even December this year.

The company says that because of the poor state of the Australian economy and the world aviation industry (the airlines particularly), now is the best time to attract investors because of the relatively low price at which stock can be purchased. It is pushing the idea of a full blown float of the 49% which will be offered instead of the “trade sale’ to a foreign airline which until now has been on the cards. A float of 49% with a $2,000 minimum investment would raise about $1bn and include several hundred thousand Australians as shareholders. Another potential ‘trade” purchaser has recently entered the arena, Garuda Indonesia, which has been given permission by the Indonesian government to make an offer on Qantas shares.

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