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Why not compromise on Sale Act, say Qantas pilots

March 4, 2014 Aviation, Headline News No Comments Email Email

egtmedia59The Australian and International Pilots Association has called on both major federal political parties to accept a compromise deal on the Qantas Sale Act.

“The current political debate over the Qantas Sale Act (QSA) is unnecessarily absolutist,” AIPA President Nathan Safe said.

“The Coalition is arguing for the QSA to be scrapped entirely, while Labor is pushing for it to be retained. More-fun-in-the-Philippines_250X250px

“We believe a compromise position could be reached, which would level the playing field for Qantas, while still retaining the airline’s unique Australian identity.”

The Qantas Sale Act stipulates that:

  • Any single foreign investor is limited to a 25% stake in Qantas
  • Foreign airlines can hold no more than 35% of Qantas shares in total
  • Total foreign ownership of Qantas is capped at 49% 

“Both sides could consider agreeing to removing the 25 per cent limit on a single foreign investor, and the 35 per cent cap on foreign airline ownership  – while retaining the cap on total foreign ownership at 49 per cent,” Safe said.

“This would free Qantas up to seek foreign investment, while still ensuring it remained majority Australian-owned.

“There is no reason to believe that foreign airline investment is an inferior option for Qantas’s future than investment from a local investment bank.

“We believe both the Coalition and Labor have a responsibility to seek a compromise deal that will assist Qantas to survive, instead of locking into an intransigent political battle.”

Edited by : Peter Needham

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