Qantas Airways said today it considers that a takeover bid for the airline has failed, after regulators refused to step in and save it.
The bidders, a private equity-backed group named Airline Partners Australia, refused to accept defeat, saying it would seek to appeal the regulators' decision.
But it appeared to be the last straw for the troubled, five-month-old bid for the company known as the Flying Kangaroo, and could spell fresh trauma for the airline including pressure on senior management to quit for backing the deal.
PA