BEIJING--The head of International Airlines Group (IAG.LN),
parent of British Airways, said Tuesday its strong relationship
with Qantas Airways Ltd. (QAN.AU) isn't dependent on equity
involvement and he doesn't believe the Australian carrier is
seeking equity.
IAG Chief Executive Willie Walsh was responding to a question
about any intention the U.K.-based company had to seek a stake in
Qantas.
British Airways was once the single-biggest investor in the
Australian airline with 25%. It sold all that in 2004. Both
airlines are key members of the Oneworld global airline
alliance.
Qantas has shied away from corporate alliances since a failed
2008 attempt to merge with British Airways.
Mr. Walsh's comments come as Qantas builds a team of banks and
key executives to ward off potential hostile takeovers. A spokesman
for Qantas said Tuesday the airline has hired Macquarie Group Ltd.
to advise in case it receives a bid and Citigroup Inc. to monitor
its share register.
International Airlines Group--officially International
Consolidated Airlines Group SA--is a multinational airline holding
company, formed in early 2011 by the merger of British Airways and
Iberia.
Meanwhile, Mr. Walsh said IAG has no fund-raising plans this
year and no plans to invest in European airlines in the near term,
saying it is "highly unlikely" the group will bid for TAP Air
Portugal.
Write to Yajun Zhang at yajun.zhang@dowjones.com