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Australia's Qantas ends talks with Malaysia Airlines on partnership

(Xinhua)

09:27, March 09, 2012

SYDNEY, March 9 (Xinhua) -- Australia's airline Qantas announced on Friday that it would not continue discussions with Malaysia Airlines on a partnership including plans for a new premium airline in Asia due to parties failing to reach mutually agreeable commercial terms.

Qantas Chief Executive Officer Alan Joyce said Asia remained a priority for Qantas and it would continue to explore opportunities in the region, including joint ventures and alliances.

However, he said Qantas would allocate minimal capital to such ventures due to global economic uncertainty and the airline's focus on disciplined financial management

"Last year, Qantas announced a five-year plan to address the challenges facing the international business," Joyce said in a statement.

"The transformation of Qantas international business remains vital, with plans to return the international business to profitability in the short term on track," he said.

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