According to sources, BA head of sales and marketing Andrew Crawley was keen to recruit Boulton to the position.
However the airline has now halted talks with Boulton and it has circulated a memo to its agencies saying he won't be taking up the position.
The recruitment process at BA, led by executive search company Bird & Co, continues.
Last month Boulton resigned with immediate effect from his position as UK marketing director of HSBC without a new job to go. Head of UK marketing Philip Mehl is acting as interim marketing director.
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