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BA confirms dialogue for stake in Qantas

British Airways (BA) has revealed that it is exploring a potential merger with Qantas Airways ‘via a dual-listed company structure,’ according to a news report in TravelDaily News. The combined revenue would be Pounds 15.7 billion. BA has 250 aircraft, while Qantas has 224, raising speculation about potential cost savings and job losses. BA and Qantas already co-operate on the 'Kangaroo Route' between the UK and Australia.

BA released a confirmation statement but was careful to point out that there is no guarantee that a deal will take place. The statement reads, “In response to recent media speculation, British Airways has confirmed that it is exploring a potential merger with Qantas Airways Limited via a dual-listed company structure. The discussions between British Airways and Iberia are continuing. There is no guarantee that any transaction will be forthcoming and a further announcement will be made in due course, if appropriate.”

According to reports Australian government has indicated it might relax the rules on foreign ownership. Under current Australian law, Qantas must be at least 51 per cent Australian-owned. Furthermore, any individual foreign airline can only take up to a 25 per cent stake and only 35 per cent may be owned by foreign airlines. But earlier this week Australian Transport Minister Anthony Albanese proposed that the rules should be changed so that 49 per cent may be owned by a single foreign airline.

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