Qantas says it is yet to make a decision on the future of its profitable frequent flyer business.

Responding to media reports suggesting the airline had shelved plans for a partial float or sale of the $2.5 billion business, Qantas said it did not respond to speculation.

“A decision on Qantas Loyalty has not been made,” Qantas said on Thursday.

The Australian Financial Review reported Qantas would formally shelve plans for a partial float of its loyalty business when it unveils its full year earnings results next week.

The newspaper said it was understood that management will tell the Qantas board it does not want to pursue a partial float or trade sale following a nine-month examination of those options.

Qantas’ frequent flyer program has about 10 million members.

Qantas shares were one cent higher at $1.33 at 1032 AEST.