QANTAS push for majority foreign ownership.
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QANTAS push for majority foreign ownership.
QF has begun the campaign to finance their planned fleet upgrade by lifting the cap on foreign ownership.
After all - Only one airline calls Australia home !
After all - Only one airline calls Australia home !
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Pity RM wasn't able to stave off Abeles. Had a like minded successor to take the reins. Then the Australian airline scenario might be considerably different. It would be Australian owned. And maybe it would be Quaintarse which would be be wearing the big "A", instead of the stylised rat. And the likelihood of a completely foreign owned new start (hates Australians) company would not be firing up and called ANSETT. And there wouldn't be a scab in Aus. Not in the aviation industry. 
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So whats the go !.
Will Howy and the minister for Qantas like the idea.
What will the implications long term be and who are the starters.
This is an interesting one for anyone interested.
http://www.crikey.com.au/business/qantasforeign.html
Will Howy and the minister for Qantas like the idea.
What will the implications long term be and who are the starters.
This is an interesting one for anyone interested.
http://www.crikey.com.au/business/qantasforeign.html
Crikey site...
Sounds more like a personal rant and rave to me. I couldnt find his qualifications, and I must admit my business qualifications are limited.
But,"why not get British Airways to sell their 25 per cent so a few more foreign instos can get on the register. "? Interesting
But,"why not get British Airways to sell their 25 per cent so a few more foreign instos can get on the register. "? Interesting
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RE: Crikey article.
I make the depreciation schedule around 1.3 billion per year on the proposed fleet upgrade - compliments the Aussie taxpayer.
Didn't AN fall over with debts of around 2.5 - 3 billion ?
Better check with Elvis and JFK.
That would equate to two years depreciation on the hoppers proposed fleet with 8 to run.
This probably will not eventuate until revision is made to the hoppers depreciation schedule.
Then they can pay for it ! - sounds reasonable.
I make the depreciation schedule around 1.3 billion per year on the proposed fleet upgrade - compliments the Aussie taxpayer.
Didn't AN fall over with debts of around 2.5 - 3 billion ?
Better check with Elvis and JFK.
That would equate to two years depreciation on the hoppers proposed fleet with 8 to run.
This probably will not eventuate until revision is made to the hoppers depreciation schedule.
Then they can pay for it ! - sounds reasonable.
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RE: CRIKEY
Articles from this source should be taken with 2 kgs of salt.
Elvis reckons anyone who believes the article re: Qantas, should contact him immediately for the bargain of the century.
He and JFK have an old bridge for sale. It's on the water, spectacular city and harbour views, has only been sold about 300 times to overseas investors and is located in the premier state of NSW.
Elvis reckons anyone who believes the article re: Qantas, should contact him immediately for the bargain of the century.
He and JFK have an old bridge for sale. It's on the water, spectacular city and harbour views, has only been sold about 300 times to overseas investors and is located in the premier state of NSW.
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Wed "The Australian" 7/8/02
Qantas persists on foreign bid
Steve Creedy, Aviation writer
August 07, 2002
QANTAS chief executive Geoff Dixon yesterday attempted to salvage the airline's failing bid to lift foreign ownership limits by arguing such a move would boost the airline's ability to service regional Australia.
Mr Dixon also said changes to the Qantas Sales Act would not affect the airline's icon status.
Qantas shares fell 6c yesterday after The Australian revealed that the federal Government was poised to reject its request to lift the 49 per cent ceiling on foreign investment.
Senior ministers agree that the Qantas case has some commercial merit but, with risks the carrier could end up in foreign hands, they remain concerned about the political fallout as the Government moves to privatise Telstra.
Mr Dixon said it would be extraordinary if opportunities for growth were curtailed by short-term concerns about a further selldown of Telstra.
He denied the airline would become foreign-controlled or that it would lose its Australian icon status if the act were changed. "Qantas would remain an Australian company with an Australian board and headquarters, operating out of Australia and employing tens of thousands of Australians," he said.
"Foreign investors, including foreign airlines, would not be allowed to control Qantas. This would ensure that Qantas continues to satisfy the requirements of bilateral agreements that allow it to fly to other countries."
Qantas argues the foreign ownership limits are restricting the airline's ability to reach its full potential, imposing an artificial ceiling on its share price and increasing its cost of capital. It believes the Government should rely on the Foreign Investment Review Board to determine what is in the national interest
Qantas persists on foreign bid
Steve Creedy, Aviation writer
August 07, 2002
QANTAS chief executive Geoff Dixon yesterday attempted to salvage the airline's failing bid to lift foreign ownership limits by arguing such a move would boost the airline's ability to service regional Australia.
Mr Dixon also said changes to the Qantas Sales Act would not affect the airline's icon status.
Qantas shares fell 6c yesterday after The Australian revealed that the federal Government was poised to reject its request to lift the 49 per cent ceiling on foreign investment.
Senior ministers agree that the Qantas case has some commercial merit but, with risks the carrier could end up in foreign hands, they remain concerned about the political fallout as the Government moves to privatise Telstra.
Mr Dixon said it would be extraordinary if opportunities for growth were curtailed by short-term concerns about a further selldown of Telstra.
He denied the airline would become foreign-controlled or that it would lose its Australian icon status if the act were changed. "Qantas would remain an Australian company with an Australian board and headquarters, operating out of Australia and employing tens of thousands of Australians," he said.
"Foreign investors, including foreign airlines, would not be allowed to control Qantas. This would ensure that Qantas continues to satisfy the requirements of bilateral agreements that allow it to fly to other countries."
Qantas argues the foreign ownership limits are restricting the airline's ability to reach its full potential, imposing an artificial ceiling on its share price and increasing its cost of capital. It believes the Government should rely on the Foreign Investment Review Board to determine what is in the national interest
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Wed "Sydney Morning Herald"
Now Qantas under pressure to heed call from the bush
By Toni O'Loughlin
August 7 2002
Lift off ... but some predict Rex will struggle to stay in the air as it competes for market share with Qantas. Photo: Robert Pearce
Qantas may be forced to improve its services to rural areas as it faces mounting opposition from Federal Government ranks to its push to free itself of foreign ownership restrictions.
The pressure for better air services to regional Australia parallels the Government's drive to win electoral support for selling its remaining share of Telstra by insisting that phone services to the bush be improved.
Resistance to Qantas's push for removal of the foreign ownership cap - which stops international investors from owning more than 49 per cent of the airline - flared as the country's newest airline, Regional Express, or Rex - was launched.
It will compete for market share with Qantas, which has expanded its services to rural Australia by 30 per cent since Ansett collapsed.
While the Federal Government has pumped about $15 million into regional airlines since the collapse, the Industry Minister, Ian Macfarlane, yesterday conceded that Rex - formed by a merger of Ansett's subsidiaries, Kendell and Hazelton - was "obviously going to have a very difficult time".
While the Government is refusing to throw another financial lifeline to Rex, Mr Macfarlane said he was keen to ensure that it was able to compete with Qantas's market muscle.
"We do need to ensure that there's fair competition within the airline industry," he said. "Qantas has a very strong market advantage at the moment."
But he is also concerned, as is the Tourism Minister, Joe Hockey, that if the foreign ownership cap is abolished, Qantas will retreat from the bush.
"I would want an iron-clad assurance that such a proposal would see an improvement in regional services," Mr Macfarlane said.
"They would have to convince me of that before I even opened the first page of their submission to Cabinet. I would be just as keen to ensure that there was fair competition in air services."
Qantas has gained Labor's support for the removal of foreign ownership restrictions.
Yesterday John Anderson, the Transport Minister and Deputy Prime Minister, who has carefully avoided publicly indicating his position on the issue, refused to comment.
"I've really nothing to say on that matter at all," he said.
Asked if Rex needed better protection from stronger competition laws, Mr Anderson, said: "Professor [Alan] Fels will be keeping a very close eye on aviation. He always does, and I don't, at this stage, believe he lacks the powers to act should it prove necessary."
Qantas said it had already increased its services to the bush.
Qantas's chief executive officer, Geoff Dixon, said: "Qantas is keenly aware of the importance of air services to regional Australia, and it is completely wrong to suggest that removal of the foreign investment cap would diminish in any way our proven and ongoing commitment to regional Australia."
Now Qantas under pressure to heed call from the bush
By Toni O'Loughlin
August 7 2002
Lift off ... but some predict Rex will struggle to stay in the air as it competes for market share with Qantas. Photo: Robert Pearce
Qantas may be forced to improve its services to rural areas as it faces mounting opposition from Federal Government ranks to its push to free itself of foreign ownership restrictions.
The pressure for better air services to regional Australia parallels the Government's drive to win electoral support for selling its remaining share of Telstra by insisting that phone services to the bush be improved.
Resistance to Qantas's push for removal of the foreign ownership cap - which stops international investors from owning more than 49 per cent of the airline - flared as the country's newest airline, Regional Express, or Rex - was launched.
It will compete for market share with Qantas, which has expanded its services to rural Australia by 30 per cent since Ansett collapsed.
While the Federal Government has pumped about $15 million into regional airlines since the collapse, the Industry Minister, Ian Macfarlane, yesterday conceded that Rex - formed by a merger of Ansett's subsidiaries, Kendell and Hazelton - was "obviously going to have a very difficult time".
While the Government is refusing to throw another financial lifeline to Rex, Mr Macfarlane said he was keen to ensure that it was able to compete with Qantas's market muscle.
"We do need to ensure that there's fair competition within the airline industry," he said. "Qantas has a very strong market advantage at the moment."
But he is also concerned, as is the Tourism Minister, Joe Hockey, that if the foreign ownership cap is abolished, Qantas will retreat from the bush.
"I would want an iron-clad assurance that such a proposal would see an improvement in regional services," Mr Macfarlane said.
"They would have to convince me of that before I even opened the first page of their submission to Cabinet. I would be just as keen to ensure that there was fair competition in air services."
Qantas has gained Labor's support for the removal of foreign ownership restrictions.
Yesterday John Anderson, the Transport Minister and Deputy Prime Minister, who has carefully avoided publicly indicating his position on the issue, refused to comment.
"I've really nothing to say on that matter at all," he said.
Asked if Rex needed better protection from stronger competition laws, Mr Anderson, said: "Professor [Alan] Fels will be keeping a very close eye on aviation. He always does, and I don't, at this stage, believe he lacks the powers to act should it prove necessary."
Qantas said it had already increased its services to the bush.
Qantas's chief executive officer, Geoff Dixon, said: "Qantas is keenly aware of the importance of air services to regional Australia, and it is completely wrong to suggest that removal of the foreign investment cap would diminish in any way our proven and ongoing commitment to regional Australia."
Nunc est bibendum
Of course, the assumption is is that you can't make money out of regional Australia. That Unlike Tesltra, I thought QF's regional stuff contributes well to the bottom line therefore the assumption that QF would pull out is inherently flawed. Why would you pull out of a port that makes money?
