Qantas Airways said on Tuesday it has hired Macquarie Group and set up an internal team to defend against potential private equity bids, after the Australian carrier lost a third of its value last week on warnings of its first loss since listing, Reuters wrote.
(Reuters) – Qantas Airways said on Tuesday it has hired Macquarie Group and set up an internal team to defend against potential private equity bids, after the Australian carrier lost a third of its value last week on warnings of its first loss since listing.
A Qantas spokesman confirmed the move in a emailed statement but declined to elaborate.
Qantas shares, which rose as much as 10.3 percent on Tuesday, were trading 9.8 percent higher at 0157 GMT. The stock fell to a record low of A$0.96 last week. (Reporting by Narayanan Somasundaram; Editing by Ryan Woo)
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