Dow Jones (USA)
Sunday August 22, 10:12 PM
AUSTRALIA PRESS: Labor May Scrap Qantas Ownership Cap
SYDNEY (Dow Jones)--The opposition Australian Labor Party would consider scrapping restrictions that limit ownership of Qantas Airways Ltd. to 49%, the Australian Financial Review reports Monday.
With a federal poll widely expected to be held by the end of the year, Labor's transport spokesman, Martin Ferguson, told the newspaper the party has an "open mind" on the issue, given changes in the aviation industry in recent years.
"Australia must have regard for making sure that Qantas can survive in a tough international competitive world," Ferguson said.
When Qantas was privatized in 1995, the then Labor government imposed restrictions to ensure the airline remained majority Australian-owned. Qantas chief executive Geoff Dixon last week called for a change in the ownership rule, arguing the carrier wasn't competing on a level playing field.
Newspaper Web site:
http://www.afr.com
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