Qantas Won’t Get Debt Guarantee From Australia, Abbott Says
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Prime Minister Tony Abbott said he won’t guarantee the debt of Qantas Airways Ltd. as Australia’s biggest airline prepares to cut 5,000 jobs and trim A$2 billion ($1.8 billion) in costs amid a battle for market share.
The government will instead seek to amend legislation that caps foreign ownership of Qantas, Abbott told reporters following a Cabinet meeting today.