Qantas Buys Alliance in $553 Million Charter Flight Deal (1)

Qantas Airways Ltd. agreed to buy the rest of Australia’s Alliance Aviation Services Ltd. in a deal valuing the company at A$763 million ($553 million), gaining a fleet of small aircraft operating charter flights for the resources industry.

The deal values Alliance at A$4.75 a share, Qantas said in a statement Thursday. The stock closed Wednesday at A$3.51. Alliance shareholders will be paid in shares in Qantas, which already owns 20% of the company.

Alliance operates about 70 jets -- Fokkers and Embraer 190s -- that can each seat as many as 100 people. That makes them well suited for ...