Emirates not looking for stake in Qantas, says chairman

[SYDNEY] Emirates is not planning to buy a stake in Australian airline Qantas, a report said on Monday, despite the government moving to loosen foreign ownership restrictions on the struggling carrier.

Canberra wants to alter ownership rules to allow greater foreign investment in the national airline, to help Qantas raise much-needed capital and put it on a more even footing with domestic competitors.

But Emirates chairman Sheikh Ahmed bin Saeed al-Maktoum said his company, the Middle East's largest airline whose profits surged 43 per cent in 2013, had no plans to buy a stake.