Qantas Airways Limited’s (ASX:QAN) former CEO Geoff Dixon and a group of activist Qantas investors have reportedly sold their stake in Australia’s largest airline.
According to numerous media reports the consortium led by Mr Dixon and investor Mark Carnegie had threatened to destabilise the strategy of current CEO Alan Joyce.
When the group failed to mobilise other Qantas shareholders to unite for change they are understood to have sold their interest last week.
Though the stake represents less than 2 per cent of the company the group has reportedly netted about $18 million from the divestment.
The report comes a fortnight after Australia’s competition regulator granted Qantas interim authorisation for its proposed alliance with Emirates.
Qantas Airways reported a net loss of $244 million in the 2012 financial year.
