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Qantas price rise directly linked to blocked Qatar Airways expansion

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The former head of Australia’s competition watchdog has asserted that Qantas airfares soared by 30% due to the federal Labor government’s refusal to allow Qatar Airways to expand its operations into the country’s major airports.

Alan Fels made these claims as part of an inquiry into price gouging commissioned by the Australian Council of Trade Unions, with his findings unveiled on Wednesday.

In his examination of egregious instances of price gouging, Fels singled out Qantas as a prime example.

Speaking to ABC on Thursday, he highlighted the impact of the blocked expansion on airfares, stating, “Well, where do you start? I thought the Qantas airfares were 30 per cent higher because of the blocking of Qatar.”

Anticompetitive barriers

Fels emphasised the need for swift action to dismantle anticompetitive barriers within the airline industry, both domestically and internationally.

He urged the government to reconsider restrictions on international aviation, particularly in light of decisions such as blocking Qatar’s request for increased flight operations.

Fels criticised the lack of competition in Australia’s retail sector, contrasting it with the more robust market in the United Kingdom.

While the UK boasts “four or five supermarkets fighting it out,” Fels lamented the dominance of just two major players in Australia, which he believes stifles competition and undermines consumer interests.

As Fels continues to advocate for reforms aimed at fostering competition and driving down prices, his remarks underscore broader concerns about market concentration and its impact on consumer choice and affordability.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

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Rich listers secret’s: how billionaires build their wealth

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Australian billionaires, including Gina Rinehart, have built their wealth by investing in valuable, income-generating assets.

For the average person looking to build their wealth, one possible option could be to buy quality assets like stocks when the market dips.

Mark Wyld from MW Wealth joins to discuss. #featured #trending #wyld money

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Buyer’s agent unveils key to building wealth through property

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Unveiling the strategies for game-changing wealth building through property.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Buyers Agent, Jack Henderson from Henderson Advocates. #trending #wyld money

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