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Qantas jumps on hopes of change to ownership rules

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(GlobalPost/GlobalPost)

SYDNEY (Reuters) - Shares in Qantas Airways Ltd <QAN.AX> jumped as much as 5.1 percent on Thursday morning after Australia's treasurer flagged possible changes to ownership restrictions which could help it compete against rival Virgin Australia Holdings Ltd <VAH.AX>.

Treasurer Joe Hockey on Wednesday said the government could lift foreign ownership restrictions or provide support to Qantas to level the domestic playing field.

Qantas shares rose 4.2 percent to A$1.23 by 2319 GMT (18:19 PM EST).

(Reporting by Maggie Lu Yueyang; Editing by Stephen Coates)

http://www.globalpost.com/dispatch/news/thomson-reuters/131127/qantas-jumps-hopes-change-ownership-rules