Botched Takeover Attempt Claims First Victim

Margaret Jackson, a key supporter of the failed takeover attempt this year of Australian flag carrier Qantas, announced Wednesday night she will resign as chairwoman of the airline later this year.

"Ms Jackson has informed the board today she will retire from the board when her term ends at this year's annual general meeting (in several months)," reads the terse statement from Qantas. "An announcement will be made tomorrow (Friday) concerning ongoing board and management decisions and Qantas's plans for the future."

Jackson's decision is not entirely unexpected, but does represent an abrupt about-face from her defiant stance in the weeks since a proposed $11.1 billion buyout for the carrier by Airline Partners Australia was abandoned.

Jackson had been a vocal supporter of the buyout plan, a decision that cost her the support of many members of the board. Comments in an interview two weeks ago -- in which she said board members opposed to the merger were "mental" -- did little to endear herself to critics, reports the Courier-Mail.

While those members won't lament Jackson's decision to leave, the board did grant her a bit of a concession -- allowing her to remain on with Qantas through the November annual meeting, instead of calling for her head immediately.

Somewhat ironically, Jackson made the "mental" comment while hospitalized for treatment of deep vein thrombosis -- a condition often brought on by long hours of airline travel, although Jackson's ailment was said to be related to treatment for another condition.

Qantas director James Strong refused to comment on Jackson's decision to step down. "You seriously don't expect me to answer that question," Strong told the newspaper.

Jackson joined the Qantas board in 1992, and was named chairwoman in 2000. Along with airline CEO Geoff Dixon, Jackson is credited with leading the carrier through a series of challenges, ranging from 9/11 and the falloff in air travel due to the SARS outbreak and the start of the Iraq war.

Aided by the strong performance of its low-cost Jetstar subsidiary, today Qantas is considered one of the world's most successful airlines... but it faces increasing challenges to both its domestic services, and its lucrative routes to the United States.

FMI: www.qantas.com.au