British Airways Says Merger Talks With Qantas End

British Airways Says Merger Talks With Qantas End

Dec. 18 (Bloomberg) -- British Airways Plc and Qantas Airways Ltd. ended merger talks after failing to reach an agreement on ``key terms.''

The two carriers will continue to cooperate on flights between Australia and the U.K. and as members of the Oneworld alliance, according to an e-mailed statement today from the U.K. carrier.

A combination of the two carriers would have created a company with about $23 billion in annual sales and a fleet of almost 500 planes. Qantas Chief Executive Alan Joyce said earlier this month the two sides needed to settle on ``an appropriate merger ratio'' before reaching an agreement.

BLOOMBERG