Canberra may lift foreign ownership cap on Qantas

[SINGAPORE] The Australian government is considering changes to the Qantas Sale Act, which limits foreign ownership in the airline to 49 per cent, prompting the airline's share price to rise yesterday.

Australian Treasurer Joe Hockey, who mooted the idea of lifting the foreign ownership curbs, described them as "regulatory handcuffs" and warned that keeping them in place could come at the cost of the taxpayer's dime.

The counter was up 5 per cent earlier in the day before ending at A$1.225, 3.8 per cent higher.