Federal cabinet has reached a compromise agreement on the Qantas Sale Act which will see the airline remain majority Australian owned.
Although the Abbott coalition government had wanted to open the airline up to foreign investment and has previously stated there was “no plan B” for the airline, the opposition and the minor parties stuck with their line to restrict foreign ownership of the airline to 49 per cent.
Individual foreign investors and international airlines will however no longer be restricted to 25 per cent or 35 per cent shares respectively as had previously been the case, with both limits rising to the whole 49 per cent.
25% off starts now! Australian Aviation magazine Cyber Monday sale is now live. Have the very best of Australian Aviation’s annual print and digital subscription. This includes every In Focus and Behind the Lens digital magazine, special coverage, exclusive photos and editions you may have miss. Subscribe now at australianaviation.com.au.
Start your very own aviation journey with Australian Aviation. Sign up today for as little as $49.95 and you’ll enjoy access to:
You can always rely on us to keep you in the know.
Join now and start enjoying all these benefits today.