Qantas has announced it will sell its 50 percent share of StarTrack to Australia Post and in parallel will acquire full ownership of Australian air Express (AaE). Since 2003 Qantas and Australia Post have each owned 50 percent of StarTrack and AaE.
In a move that aims to optimise return on the airline’s airfreight investments as it seeks to bolster its flagging financial position, the full acquisition of AaE will also provide Qantas a near-seamless airfreight product across its international and domestic networks under a single Qantas Airfreight brand. Post-acquisition, it will retain close links with Australia Post and StarTrack, which will remain significant customers of the airfreight business.
The planned ownership changes, subject to approval by the ACCC and Australia Post’s government shareholder, are expected to be completed by the end of the year.