Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

The facts are that the former Labor government, with the coalition’s support, decided that governments should not own commercial airlines. That was a decision made over a decade ago. The airline was sold to a whole range of Australian and foreign shareholders. Those shareholders will now decide, as the owners of that company, whether or not they wish to accept an offer that has been made to them by a majority Australian equity consortium. At the same time, the Australian government, through the Foreign Acquisitions and Takeovers Act, is examining the proposal to ensure that it does comply with the FAT Act and, of course, the airline must continue to comply with the Qantas Sale Act. So, while I understand Senator Fielding feels emotional about this matter, our job is to ensure that the current laws are complied with—but at the end of the day it is a matter for the owners of that company, the shareholders, to decide whether they want to accept the bid that has been made for their shares.