Qantas has sold its remaining 12.4 percent shareholding in Australian travel agency Helloworld Travel Limited for $22 million.
The airline made the decision as it “sharpens its focus on post-Covid recovery,” and it had been reducing its stake over several years.
“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,” said Qantas Group chief financial officer said Vanessa Hudson.
The sell-off was confirmed in a statement to the stock exchange.
Qantas will continue to have a strong relationship with Helloworld as a trade partner, she added.
The national airline has held a stake in Helloworld since 2008, when it was spun off from a merger of Qantas Holidays and Jetset Travel.
Qantas also sold 14 hectares of industrial land near its Mascot headquarters in Sydney for $535 million in late 2021.
Corporate travel agency CTM bought Helloworld’s business travel division for $127 million at the end of last year.
Tags: australia, qantas, travel agents