Multimillonaire ad man John Singleton confirms interest in Qantas

Multimillionaire ad man John Singleton has declared he is ''always interested'' in potential deals and has gone on to describe Qantas as an undervalued airline with a future, but maintained silence over reports he was part of a consortium eyeing the national carrier.

Speculation of takeover by a consortium led by former Qantas boss Geoff Dixon, had been sparked by the company's share price collapse.

Singleton has been named as a possible member of that consortium, who confirmed his interst in the airline, saying Qantas had a future. .

Singleton declined to confirm if he, Dixon and venture capitalist Mark Carnegie were part of a consortium that was about to buy a cornerstone stake in Qantas.                                                                                                                               

According to Qantas CEO Alan Joyce the airline had set up a defence team to prepare for a ''whole range of scenarios'' but said it had not received any takeover offers.

 Joyce has also ruled out an equity raising despite the embattled airline's falling share price.