[News] Brits to sell Aussie icon

http://www.theage.com.au/articles/2004/09/08/1094530655416.html

Brits to sell Aussie icon

[edited]
"British Airways plans to sell its 18.25 per cent stake in Australian
flagship airline Qantas Airways, in a move which should reap the
United Kingdom carrier more than $1.0 billion.

BA, which said it would sell the stake to pay down debt, acquired its
initial shareholding in Qantas in 1993 for AU$665 million and has
since received AU$600 million in dividends. "
[...]
"The share sale has no impact on the existing business relationship
between the two airlines and is not linked to our joint services
agreement (JSA) which continues.

"The JSA is a strong, well established relationship which brings real
commercial benefits to both British Airways and Qantas."
[...]
"Qantas chief executive Geoff Dixon said.

"Neither airline now believes the shareholding is necessary for the
ongoing conduct of that relationship.

"To this extent the Joint Services Agreement that provides for joint
schedules, sales and operations between Australia, South East Asia,
the United Kingdom and Europe will continue, as will other forms of
cooperation."