Qantas (QF, Sydney Kingsford Smith) could see the Australian government acquiring a 10% stake as part of plans to provide it with an implicit credit guarantee, the Australian Financial Review has reported. The move could spur a rally in the carrier’s debt as it would boost support for the company’s investment-grade credit rating. Australian Treasurer Joe Hockey has called for a debate over the possibility of lifting legislative restrictions in the form of the Qantas Sale Act which caps foreign shareholdings in Qantas to “level the playing field.” Other options include a direct guarantee, direct low-cost loans and a government equity purchase. However, rival Virgin Australia (VA, Brisbane International) CEO John Borghetti has called on Canberra for the same financial support. "There have been media reports that the Government offered comfort letters to Qantas’s credit rating agencies, prior to our capital raising," he told ABC news. "I would also note that if Virgin Australia had been afforded the benefit of such a letter, it would have enabled us to achieve superior outcomes from both the recent debt bond issue undertaken in the US market and the capital raising that is underway." Qantas objected to Virgin's recently announced AUD350million (USD327million) capital raising venture under written by its major shareholders, Singapore Airlines (SQ, Singapore Changi), Air New Zealand (NZ, Auckland International) and Etihad Airways (EY, Abu Dhabi International).