Legislation barring foreign investors from holding more than a 49% stake in Qantas (QF, Sydney Kingsford Smith) could hamper the carrier's growth plan, including the replacement of its A380-800s and purchase of new ultra-long-range aircraft, chairman Leigh Clifford has told The Sydney Morning Herald.
As of mid-December, 46.7% of Qantas' shares are held by foreign companies.
Clifford underlined that while Qantas has posted its second-best annual result in the fiscal year 2017 with a AUD1.4 billion (USD1.1 billion) underlying profit before tax, it nonetheless may need external financing during its planned fleet replacement programme.
Last year, Qantas has put out a challenge to Airbus and Boeing to develop an ultra-long-range aircraft type capable of flying from Sydney Kingsford Smith and Melbourne Tullamarine to each of London Heathrow and New York JFK. The Australian flag carrier will use its B787-9 to launch the first-ever direct non-stop route between Australia and Europe in March this year, connecting Perth International and London Heathrow. The Boeing twinjet does not, however, have sufficient range to operate longer segments.
In the future, the carrier will also seek a replacement for its twelve A380-800s.
