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Company News Summary

Qantas Airways Strengthens Balance Sheet With Sale Of Surplus Mascot Land

15 Oct 2021  |  09:04:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Qantas Sale of Surplus Mascot Land

Qantas Airways entered into binding agreements with a consortium led by LOGOS Property Group for the sale of 13.8 ha of land in Mascot for $802m. The Company expects to complete the evaluation of these proposals in early 2022, and if an agreement is reached, this has the potential to raise the total value of the deal to more than $1bn. The sale of the largely underdeveloped land follows a three-month expression of interest process, which resulted in 18 bids from a range of Australian and international syndicates.

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