Arab Today, arab today qantas blasts \predatory\ rivals
Last Updated : GMT 13:45:24
Arab Today, arab today
Arab Today, arab today

Qantas blasts \'predatory\' rivals

Arab Today, arab today

Arab Today, arab today Qantas blasts \'predatory\' rivals

Sydney - AFP

Qantas chief executive Alan Joyce has demanded the government halt what he described as a "virtual takeover" of Virgin Australia by foreign airlines, saying they were working to destabilise the national carrier. Singapore Airlines, Air New Zealand and Abu Dhabi-based Etihad already own 63 percent of Qantas' main domestic rival and under a Aus$350 million (US$328 million) capital raising announced last week, that could increase to as much as 72 percent. In a searing letter to Prime Minister Tony Abbott and all state governments, seen by the Australian Financial Review, Joyce charged it was the "final act" by "predatory" state-owned airlines to cripple Qantas both domestically and internationally. Joyce's ultimate fear is that the capital raising, "supported and largely underwritten by three foreign governments'', was part of a strategy of subsidising Virgin so it could continue to undercut Qantas on profitable domestic routes. The domestic sector is a key money spinner for the airline and it has helped prop up its underperforming international network. In his letter, Joyce said the move by thethree airlines had "all the characteristics of predator behaviour (to) substantially weaken a major competitor, Qantas Group, and recoup the costs at a later date", the newspaper reported. Qantas confirmed in a statement Monday that a letter had been sent "to express concerns, as the national carrier, about potentially damaging shifts in Australia's aviation industry". "Virgin Australia's proposed capital raising could see its foreign ownership rise to more than 80 percent without the need for any further regulatory approval," the statement said. "Despite this, the airline would retain all the traffic rights given to Australian carriers. "If wholly privatised, Virgin Australia's ability to receive potentially unlimited capital from its government-backed owners would seriously distort the domestic aviation market for the benefit of foreign interests. "The decision of these shareholders to invest in Virgin Australia's loss-making strategy highlights that these airlines aren't subject to the same commercial realities as Qantas." It demanded Canberra "fully examine the motives behind the virtual takeover of Virgin Australia by foreign airlines, and to prevent destabilising of the domestic aviation industry, local tourism and jobs". Qantas said the situation was compounded by the disadvantage it experienced from the restrictions imposed by the Qantas Sale Act when it was privatised in 1995, which limits foreign ownership in the national carrier to 49 percent. Joyce said the government should urgently revisit the "outdated policy framework".

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today qantas blasts \predatory\ rivals Arab Today, arab today qantas blasts \predatory\ rivals

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today qantas blasts \predatory\ rivals Arab Today, arab today qantas blasts \predatory\ rivals

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday