Australian government rejects Qantas $2.7bn loan request
Qantas says it has been hurt by rules limiting
foreign ownership of the airline to just 35%
The Australian government has
rejected struggling airline Qantas's request for an A$3bn ($2.7bn; £1.6bn)
loan. Instead, Australian Prime Minister Tony Abbot said the government plans to
change rules preventing foreign investment. However, Mr Abbot has not yet won support of opposition senators, who say the
move could send jobs overseas.
Last week, Qantas reported a first-half loss of A$252m ($225m; £135m) and said it would cut 5,000 jobs.
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