It came after the Australian government indications that the company may relax the policies on overseas ownership.

According to the current Australian law, Qantas 51 percent ownership must belong to Australia and an individual oversea airline can own its 25% stake while total 35 percent by different foreign airlines.

According to Australian transport Minister Anthony Albanese, the old rules might be changed, but still 51 percent stake to be owned by Australian based company, however, it will be allowed to own 49% stakes by a single foreign company.

Qantas future is somewhat uncertain particularly after a $7.1bn bid that was offered by Airline Partners Australia that collapsed during the last year.

EU is already investigating an anticipated profit sharing deal between American Airlines and British Airways. They will decide schedules, fares and routes under this deal.

After that announcement, British Airways’ shares saw 17.4 pence or 12.46% increase at the end of the day.

According to the Sunday Times report, the Abu Dhabi carrier first approached to BMI in  summer for a potential deal that valued BMI around £600m.

It has been told that Etihad has also talked to Germany’s Lufthansa airline that has 30% shares in BMI.

Etihad says that: “It has a number of discussions with several carriers, but a deal has not been decided with anyone.”

After British Airways, most of the flights from London’s Heathrow Airport are operated from BMI.

Just like many other airlines, there is a decrease in BMI profits because of the high prices of aviation fuel.

This decrease in profits margins has made many carriers to seek closer ties with rivals. British Airways is planning to have a tie-up with American Airlines.

Many other carriers, like Italy’s Alitalia, are facing financial problems and trying to have a rescue deal.

During the last year, BMI operated 70 aircraft and flew 10.6 million passengers.