Qantas tie up with Malaysian Airlines from 1st April

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In a brief statement today revealing the failure to cement a deal, the chief executive, Alan Joyce, said Asia remained a priority for Qantas and it "continued to explore opportunities in the region, including joint ventures and alliances".

"The transformation of Qantas's international business remains vital," he said.

But he again emphasised that any investment in Asia would be on the basis that Qantas will allocate "minimal capital to such ventures".

Read more: Qantas's Asian plans stall after talks fail

But he said the airline would only allocate minimal capital to such ventures - the so called "capital lite" model - because of economic uncertainty and the Qantas focus on disciplined financial management.

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