Qantas says bye to FJ control and pulls directors

[markis10]

QANTAS has withdrawn its four directors from the board of Air Pacific, saying it was clear that Fiji's military regime wanted to take complete control of the carrier. Qantas, which has held a 46 percent stake in the airline since 1998, said the withdrawal would have immediate effect in the Pacific nation controlled by strongman Voreqe Bainimarama who took power in a 2006 coup.
"The action is a response to intervention in the management of Air Pacific by the Fiji government, including the issue of a decree designed to reduce Qantas's role on the board," it said in a statement.

http://www.adelaidenow.com.au/busin...rom-fiji-airline/story-e6frede3-1226372251710

 

[TheInsider]

So does Qantas get paid out or anything?

 

[amaroo]

So does Qantas get paid out or anything?

They have to wait until the next coup.....which shouldn't be that long of await

 

[Isochronous]

What about the NAN J runs!

 

[JohnPhelan]

So does Qantas get paid out or anything?

No, they still own 46% - but who in their right mind would buy it?? And there's no reason for Admiral Bananarama to buy them out ..........

 

[docjames]

Interesting to see if they can recoup any of their investment.

Expect if relations fall apart badly for Onestar to flood the market with seats (until the fj "government" retract their air rights).

 

[simongr]

Anyone know if the investment is fully written down in the QF books? Might be another hit QFi's profits