Qantas dumps $8 billon merger proposal

Qantas has abandoned its ambitious attempt to merge with British Airways after the companies failed to agree on terms.

Qantas has abandoned its ambitious attempt to merge with British Airways after the companies failed to agree on terms.

British Airways proposed a merger of equals, with both companies taking a 50% share in the new entity. But it appears Qantas wanted a slightly higher share to reflect its larger market shares and value.

“Despite the potential longer term benefits for Qantas and BA, the airlines have not been able to come to an agreement over the key terms of the merger, at this time,” Qantas said in a terse statement.