Qantas Group has reached an agreement to purchase Network Aviation for A$30m to tap the fly-in-fly-out (FIFO) resources air charter market for the mining industry in Western Australia.
Qantas CEO Alan Joyce said the mining company demand for FIFO air services to transport employees to and from remote sites within the state could not be met solely by regular passenger transport services.
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The acquisition would provide a strong growth opportunity, new revenue streams and further diversification for the Qantas Group.
Network Aviation operates a fleet of two 100-seat Fokker 100 aircraft and six 30-seat Embraer Brasilia EMB-120ER aircraft.
Network Aviation will become a wholly owned subsidiary of the Qantas Group following the acquisition.
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By GlobalData
