Emirates: We Don't Want To Give Qantas Any Equity

Alan JoyceGetty Images/Sean Gallup

The boss of Emirates has denied the airline could provide equity to Qantas if foreign ownership laws were changed.

Qantas has asked the government for help as it struggles to compete with domestic competitor Virgin Australia.

Tony Abbott has said one option could be changing the Qantas Sales Act, which caps foreign ownership.

This led to speculation Emirates, which has an alliance with Qantas, could be interested in investing.

Though president Tim Clark told AirlineRatings.com this was not the case.

“will watch it [the situation] carefully” he said, however the airline does not have the “bottomless pit of cash” that Virgin Australia’s partner Etihad Airways has.

“So no, equity is not on the table,” Clark said.

According to The Australian, options to help Qantas are set to be debated in a cabinet meeting on Monday.

The national carrier has said it is unable to fairly compete with Virgin, which is raising $350 million through its overseas airline shareholders.

There’s more here.

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