Qantas has purchased a 19.9% stake in Australian charter and regional carrier Alliance Airlines—a move that raised concerns by rival Virgin Australia, which has a long-standing partnership with Alliance. Qantas acquired the Alliance shares for A$60 million ($43.6 million) with a long-term aim of taking a majority stake in the airline, the Australian flag carrier said Feb. 1. The move appears to have surprised the Alliance board, which said it had “not received any approach from ...

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