Airline Affairs

Compass Revival Closer:

The reincarnation of Compass Airlines in a completely new form has moved one step closer following the signing of an underwriting agreement between Southern Cross Airlines Holdings and stockbroker JB Were & Son.

The Australian Securities Commission. has registered the prospectus for the $50m float and strong support is expected from Queensland investors because the airline will be headquartered in Brisbane. The Queensland government has already agreed to sub-underwrite $10m of the float and to provide another $4m in loans to cover setting up costs.

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