Qantas may sell FFP unit - airline share sell-off continues

Qantas shares dipped 3% yesterday and plunged a further 5% in early morning trade today on the weaker economic outlook and reports the carrier may be planning further cuts to its network. Rumours the airline is negotiating to sell its frequent flyer unit to private equity buyers for up to AUD1.2 billion (USD765 million) appear to have failed to impress investors. The unit had previously been valued at up to AUD3 billion.