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Qantas Airways stake unlikely to be acquired by Emirates

Qantas Airways’ Chief Executive Alan Joyce recently strongly refuted the speculation about Emirates acquiring a stake in the airline. He said that reports of Emirates buying an equity stake in Qantas Airways were incorrect.

Joyce said that Qantas Airways has increased its share of Australia’s international passengers for the third straight month in March this year.
According to Bureau of Infrastructure, Transport and Regional Economics' statistics, Qantas Airways flights carried 19 percent of all passengers coming into or out of Australia in March 2012. However, as compared to the same month in 2011 the passenger traffic was marginally down from 19.4 percent.

Joyce has already indicated that Qantas Airways was on track to post yet another loss this year due to stiff competition from foreign carriers and a high cost base. The airline’s international operations had suffered a loss of $216 million in 2010-11.

Recently, Qantas Airways split its domestic and international operations into two businesses as part of a management shake-up.

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