Airline Affairs

 Eastern Sold to Australian:

Eastern Australia Airlines has been taken over by national carrier Australian Airlines after acquiring the rest of its shareholding from Eastern’s founder and managing director, John Rowarth.

Mr Rowarth, who built up the major regional airline over the past 25 years, sold his 58% share to Australian (which already held 42%), giving Australian total ownership. While details of the sale haven’t been released, Australian’s latest annual report put its previous 42% Eastern holding valued at $7. 02 million, putting the total value of the airline at just under $17m.

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