The Federal Government has confirmed it will remove foreign investment restrictions on Qantas (ASX:QAN) to give it closer parity with other Australian carriers.
The Government will remove the 35% cap on ownership by foreign airline shareholders, and the 25% cap on foreign individual shareholders.
But the 49% restriction on total foreign ownership will remain in place.
Qantas CEO Alan Joyce said the reform would help give Qantas greater leverage to attract capital.
“Airlines need policy certainty and financial freedom of movement in order to implement long-term growth plans,” he said. “Qantas has ambitious goals – and access to capital will be vital to achieving our objectives.”
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