Qantas
(ASX:QAN) has agreed to not expand its stake in regional carrier Alliance Aviation while the ACCC investigates what the shareholding could mean for competition in the aviation industry.
On February 1 Qantas said it had spent $60 million to build a 19.9 per cent shareholding in Alliance, with the longer term view to take a majority position in the company, pending regulatory approval.
Qantas do not believe there is any evidence of a lessening of competition as a result of their minority stake, nor any reasonable prospect that there will be.
Shares in Qantas
(ASX:QAN) are trading 0.35 per cent higher at $5.73.
