International Airline Group,-Willing brides?

Willie Walsh of BA recently announced his vision of expanding International Airlines Group ,which will be the holding company of the merged BA and Iberia, to include up to maybe ten additional airlines. Amongst the specified possibles were the strong and independent minded Cathay Pacific and Qantas.Both are used to close control of their own geographical territories,tactics, strategies and ultimate destinies. It seems out of character and therefore unlikely that either would be happy to surrender this freedom of action and control of all they see in return for an uncertain slice of a bigger cake and for seats at the Board table of a distant Madrid based conglomerate. They are also very selective about the company they keep and some of the other possible members mentioned by Walsh would have little attraction for them. Why,-in addition to this loss of control,- marry into hassle,potential dilution of profits to support weaker members, and Europe style labour laws? Walsh could well be disappointed on this one.