12.4% HLO shareholding offloaded for $33 million.
Qantas has just announced the divestment of its 12.4% shareholding in Helloworld Travel Limited, with the sale price agreed at $1.72 per share valuing the stake at approximately $33 million.
Qantas Group Chief Financial Officer, Vanessa Hudson, said “our stake in Helloworld has reduced over several years and now is the right time for us to exit as shareholders”.
“We’ve announced some major investments this year as we focus on what is core to the Group going forward, including fleet renewal, growing our network and a successful expansion into the e-commerce holiday booking space with TripADeal,” Hudson said.
She said Qantas would “continue to have a very strong relationship with Helloworld as a trade partner, and travel agencies in general remain an important pillar of how millions of trips are booked every year”.
Helloworld hasn’t yet commented on the move, while it’s also unclear at this stage who has purchased the Qantas stake in the company.
More details in tomorrow’s issue of Travel Daily.