Qantas to remain majority Australian owned | Bangkok Post: business

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Qantas to remain majority Australian owned

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  • Writer: AFP
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SYDNEY - The Australian government Wednesday abandoned plans to allow struggling national carrier Qantas to be majority overseas owned but agreed to a compromise that will see foreign investment restrictions eased. 

The Australian government has abandoned plans to allow struggling national carrier Qantas to be majority overseas owned but agreed to a compromise that will see foreign investment restrictions eased. (AFP photo)

Qantas has been lobbying for help after a Aus$235 million (US$219 million) loss in the six months to December 31 and a decision to slash 5,000 jobs as it battles high fuel prices and fierce competition from subsidised rivals.

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