Just 48 hours after rejecting an initial take-over attempt, Qantas has agreed to a £4.4bn deal that could spark a number of other high-profile bids for other airlines.

The board of the Australian carrier reportedly recommended that shareholders accept A$5.60 a share from a private equity consortium including Macquarie Bank (http://news.bbc.co.uk/1/hi/business/6178253.stm).

It makes the takeover deal the largest in the history of the airline industry. But it has also prompted speculation that other leading airlines may now become targets for take-over bids, with British Airways top of the list of many analysts.

Any deal for BA would easily beat the Qantas take-over and so the coming months could see a lot of wheeling and dealing as potential suitors line up their bids.

(Read more about the potential for other take-over deals in my post Take-off for take overs

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