British Airways has revealed that it is exploring a potential merger with Qantas Airways. The company 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.”
The news follows the new that Australian government may be prepared to relax the rules on foreign ownership.
Under current Australian law, Qantas must be at least 51% Australian-owned.