600ft-lb
You had best tell SQ, AirNZ and EY that I'm sure they'll be interested.
SQ, NZ & EY own a domestic airline in Australia. Perfectly legal under Australian laws. They don’t own the international arm (separate company) of the domestic airline. Funnily enough I remember QF squealing like stuffed pigs to the Fed’s when the said international carriers increased their shareholding in the domestic carrier claiming unfair competition and breaching Australian ownership rules of international carriers based in Australia.
You should also tell Swire Group that as well. I'm really interested what material difference there is between an ownership structure like CX's parent company has compared to the proposed Jetstar HK ownership structure.
Last time I looked Swire Pacific was a Hong Kong company with its “Principal Place of Business” in Hong Kong. They are one of Hong Kong’s largest property developers/owners/managers, they have substantial shipping and insurance businesses here in Hong Kong and are one of the largest bottles of Coca Cola in the world with their ownership of Swire Coca Cola HK Ltd. Swire Pacific owns 42% of CX, Air China owns 30%, Public Shareholders in Hong Kong own 25% and CITIC Pacific owns 3%. 67% of CX is owned in accordance with the “Principal Place of Business” set in Hong Kong’s constitution, “The Basic Law”. What businesses do Qantas or China Easter have in Hong Kong? Nil
Like Alan Joyce said, if the same rules were applied to everyone, CX and KA would be shut down tomorrow.
A completely false through away line by Joyce to the hordes of the great unwashed. I see you have fallen for it hook, line and sinker.
busdriver007
You are wrong, In Australia ANY airline can set up, irrespective who owns it. This is unlike any country in the planet. I would not be surprised if CX does just that and there is nothing QF can do about it because the Government has already opened the doors!
Actually all international carriers based in Australia must be 51% locally controlled and owned. There are no such rules for domestic carriers operating in Australia. They can be 100% foreign controlled and owned.
AIR NAVIGATION ACT 1920 - SECT 11A