Sydney, Aug 3, 2007 (ABN Newswire) - Qantas is upping the ante against Tiger Airways by switching a key Jetstar route. The Syndey Morning Herald is reporting that Jetstar will take over the Cairns, Darwin to Singapore route from Jetstar Asia on February 1, just two months after Tiger launches its first Australian domestic service between Melbourne and Darwin. The underperforming Jetstar-Asia airline was considered little threat to Tiger. Yesterday's decision to replace it with the stronger Qantas offshoot is seen as a move to underline Qantas' intention to meet Tiger head-on. Qantas saw earnings ease in 2006 after the previous year's highlight.

The Australian Financial Review is reporting that Woolworths could hand as much as $2 million back to shareholders if it fails to win a seat at the Coles Group table. Chief executive Michael Luscombe said that in the absence of a major acquisition, Woolworths will be all cashed-up. But the company is still hoping to get a piece of Coles Group if Wesfarmers fails in its multi-billion dollar bid. Woolworths has already applied for the ACCC's permission in case Wesfarmers bid continues to slip. Coles Group can terminate Wesfarmers offer if its share price falls below $41.60 for 20 consecutive days. Woolworths posted record earnings in 2006.

The fin review is also reporting that Leighton Holdings and United Group are sniffing around Downer EDI after the company issued its second profit warning in 12 months yesterday. Downer has appointed ABN Amro as adviser after announcing net profit for the year would be about 35 per cent below forecast. Downer's chief executive has left the company. Leighton previously expressed interest in Downer with Macquarie Bank and United. Downer's chairman told the paper the company has not yet had any formal approaches. Downer posted a loss in 2006 after earnings hit record highs in 2005

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/lnk/WQ5G6DYK


Audio Link

http://abnnewswire.net/lnk/G9J948B0

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>>> DOWNER EDI LIMITED
>>> QANTAS AIRWAYS LIMITED
>>> WESFARMERS LIMITED
>>> WOOLWORTHS LIMITED
>>> COLES GROUP LIMITED