QANTAS Defers Frequent Flyer IPO
Qantas said today that as previously announced it has been exploring a minority Initial Public Offering (IPO) of the Qantas Frequent Flyer business.
The Board, at a meeting this week, decided that in this period of heightened market volatility, it would be appropriate to defer the IPO.The Board said preparations would continue for a minority IPO in the first half of 2009.
Analysts valued the planned partial float of the Qantas Frequent Flyer program at between $1 billion and $3 billion. Today news of the delayed IPO comes after Qantas said it would expand its cut price Jetstar operations in Australia and internationally, which is including boosting its order for the new Airbus A 380 airplane.