News: Qantas reports drop in foreign ownership

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Qantas Airways Limited (ASX:QAN) has reported a drop in its level of foreign ownership with the rate down to 42.8 per cent.

 

Australia’s biggest airline reported the figure as part of its obligation to the ASX whenever foreign ownership exceeds, or drops below, 44 per cent. 

 

The company says that on 13 October the rate stood at 47.8 per cent but come October 17 it had dropped to 42.8 per cent.

 

Rules for the company prohibit a level of foreign ownership above 49 per cent.

 

Qantas reported a net loss of $2.8 billion in the 2014 financial year.