Federal Cabinet Will Discuss The Qantas Sale Act Changes Today

Qantas boss Alan Joyce (Photo: Bloomberg)

The Federal Cabinet will discuss expected changes to the Qantas Sale Act today, according to The Australian.

This includes allowing overseas investors to own more than 49% of the national carrier, and removing a clause that says maintenance work needs to be carried out in Australia.

While its almost certain The Government will announce the changes, these still have to go through both houses before they would come become law.

As Alan Joyce said at his press conference after the results last week, “it could be years” before Qantas’ fortunes are improved by the legislative change.

In other Qantas news, according to the Australian Financial Review, the airline has not ruled out legal action against rival Virgin Australia over its foreign ownership levels.

There’s more here.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.