Qantas and Australia Post have announced they have finalised the swapping of their respective stakes in Australia Air Express and road freight company StarTrack.

 

Australia Post is now the sole shareholder of StarTrack, with Qantas now claiming full ownership of Australian Air Express.

 

The transactions were completed after consultation with the Australian Competition and Consumer Commission (ACCC).

 

"The StarTrack acquisition adds significant additional capability to Australia Post's services, particularly in the area of express and tracked parcel services meaning we can enhance our offer to customers, particularly our business customers,” Australia Post’s CEO Ahmed Fahour said.

 

"The acquisition forms part of a $2 billion investment in Australia Post's national logistics and retail network which will accelerate the creation of a world class parcels network to help drive the digital economy."

 

StarTrack CEO Stephen Cleary will continue to lead the company and StarTrack will remain a standalone entity in the Australia Post group.