PRESENTER:
Love your views on Qantas this morning, fears it could under. It has warned the Federal Government it could disappear if Etihad Airways is allowed to double its stake in Virgin Australia. Joe, should we protect it?
JOE HOCKEY:
Well, we should assist Qantas, Qantas is an Australian icon. It's a hugely important piece of Australian infrastructure. I don't think it's going to go under if Etihad increase their stake holding. Already, Air New Zealand and Richard Branson have much larger stakes as foreign investors in Virgin than Etihad. But look, we have to make a decision about whether Qantas does become a major international airline with a majority ownership overseas or whether we want to retain it and pay a price for retaining it as an Australian icon.
PRESENTER:
I suppose the going broke threat is sort of an ambit threat as you say, no-one really expects that. But I think Alan Joyce is making the point Tony that ‘Hey, we have got to compete against all these airlines that are owed by governments, subsidised by governments. We have these shackles on us about how ownership and how we operate. Have a level playing field, let us free if you like.’
TONY BURKE:
There is always tension there between the fact that Australians are really proud to have your own airline in Qantas, but the tension as well…
PRESENTER:
Does the government need to move to take those shackles off Qantas?
TONY BURKE:
As I say, Anthony Albanese is the Minister for Aviation and will be able to go through it in greater depth than I can but you have real tension in making sure you provide the best possible prices for consumers, the flexibility in a competitive market and also respecting an Australian icon.
JOE HOCKEY:
Alan Joyce is doing a great job as chief executive. This guy has been under the pumps, the unions have been outrageous with Qantas, and all strength to his right arm for changing the company.
PRESENTER:
Joe, Tony, thank you both for joining us.
Joe is obviously a big fan.