Qantas calls for rules on foreign ownership to be relaxed
Qantas is calling on the Australian government to relax restrictions on foreign investment in the airline.
Chief executive Alan Joyce has given its support to a suggestion by Australian Treasurer Joe Hockey that rules restricting foreign investment in the carrier should be changed.
Under the current regulations, put into place ahead of the airline’s privatisation in the 1990s, total foreign holding of Qantas are limited to 49% and foreign airlines are allowed to own just 35%.
While rival Virgin has benefited from increased foreign investment, Qantas claims the ownership rules have dampened its growth.
It said since the regulations were put into place, the dynamics of the airline industry have changed significantly and it is now struggling to compete, particularly in the international market.
But the BBC reports that in a note sent to Qantas employees this week, Joyce said the government needed to do more than just change the ownership rules.
He said the process would be prolonged "during which time Virgin Australia would be free to continue its anti-competitive strategy aimed at crippling Qantas".
"We simply do not have the time,” he added.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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