Aussie Govt. Mulls Qantas Sale Conditions

The Australian government is considering whether to attach specific conditions to the takeover bid for Qantas, the national airline.

A private equity consortium that includes Texas Pacific Group and Allco Finance has offered an $11.57 billion buyout of Qantas. The bid received unanimous approval from the airline’s board last month.

Acting Prime Minister Mark Vaile says while Qantas occupies a unique position in the Australian economy, the government cannot be too prescriptive.

On the commercial side of things, that’s a matter for the market, he told the Australian Broadcasting Corp. But it certainly would be in the national interest to maintain a high level of skill in the aviation industry in Australia.

Vaile’s comments followed newspaper reports that government approval of the buyout would depend on the consortium keeping jobs and aircraft maintenance facilities in Austria.