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.
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