Changes to the Qantas Sale Act to relax restrictions on the airline’s ownership have been put on hold until after the federal election later this year, according to a report in the Australian Financial Review.
The newspaper states that the amendments to the Act are not on the parliamentary agenda for May and June in the lead up to the eight week winter break. Parliament would then resume in September, although that may be suspended depending on the timing of the election.
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As part of the Aviation White Paper, the Labor government has committed to removing foreign ownership caps on Qantas which were part of its original sale in 1993, although it will remain majority Australian owned. Qantas CEO Alan Joyce welcomed the changes, which were announced last year, noting that it would open up the airline to access greater foreign capital over the coming years.
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