Talks between Australia's Qantas and Malaysia Airlines to establish a premium airline in Asia have broken down, in a setback for both carriers. Qantas said the two sides could not agree on commercial terms. Qantas shares fell 4 per cent in Sydney. Qantas has announced plans to focus on the Asia region as a way to stem losses in its international business. The chairman of Malaysia Airlines recently said the company was in crisis after reporting hefty losses.