Qantas plans major investment in an Asian carrier - chief financial officer
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Jetstar
SINGAPORE (XFN-ASIA) - Australian flag carrier Qantas is close to announcing plans to invest in an Asian carrier by the first half of the year, chief financial officer Peter Gregg said.
"We are very close to announcing a substantial investment in the region," Gregg said at a low cost airline conference here.
Gregg declined to name the carrier Qantas is interested in but told reporters after his speech the Australian flag carrier would not be taking a majority stake because of ownership regulations.
"No, you can't take a majority stake because of ownership restrictions," he said when asked if the investment involved Qantas being a majority shareholder.
Qantas is carrying out due diligence with the Asian carrier, Gregg said.
The Australian carrier is one of the world's most profitable airlines with net profit of 479.5 mln aud in the year to June 2006.
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Qantas plans major investment in an Asian carrier - chief financial officer 
