Legendary ad man John Singleton has reportedly been linked with speculation about a potential purchase of Australian airline Qantas.
According to a report in The Sydney Morning Herald, Singleton said he is “always interested” in good deals, and also said he believed Qantas was an undervalued business with a future.
However, he would not confirm or deny speculation he is part of a group looking to buy the airline.
Reports have suggested the group also includes former Qantas boss Geoff Dixon and venture capitalist Mark Carnegie.
It has also been suggested the consortium would be looking to capitalise on the company's plummeting financials.
The airline recently revealed it expects a $450 million drop in underlying profit for the full financial year, which would mark a 91% decline.
Meanwhile, Qantas shares nosedived to an all-time low fo 97 cents last week.
The international arm of Qantas is in particular trouble. Issues such as increasing fuel costs, weak markets in the United States and Europe, and a high Australian dollar have led to financial issues.
Follow @AdNews on Twitter for breaking stories and campaigns throughout the day.
Have something to say? Send us your comments using the form below or contact the writer at davidblight@yaffa.com.au
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.