Qantas Airways Limited’s
(ASX:QAN) Chief Executive Alan Joyce has revealed the airline plans to sell its 50 per cent stake in road freight business Star Track Express.
Mr Joyce says over the long term it doesn’t see the logistics trucking business as a core business.
Star Track Express is a joint venture with Australia Post. Qantas bought its share for $375 million in 2003.
Analysts predict the logistics company to deliver earnings before interest and tax of about $58 million in its full year results.
In the first half of the 2012 financial year Qantas reported a net profit of $42 million.
