Prime Minister Tony Abbott has left the door open to allow greater foreign ownership of Qantas, but says any decision must be in the national interest.
Qantas is subject to laws ensuring its at least 51 per cent Australian-owned.
The airline argues this hampers its access to investment capital and creates competition restraints, because other carriers like Virgin Australia aren't subject to such regulation.
Asked on Monday whether he would consider easing the foreign ownership requirement on Qantas, the prime minister said: "That's a fair question."
"These limits were set by legislation quite a long time ago ... I don't think anyone says that because something was done once it is set in concrete forever," Mr Abbott told Fairfax Media radio.
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"But if legislation were to change, obviously, there would need to be a community debate and I think that debate has just begun.
"Philosophically my instinct is to have less regulation, not more, but in the end you've got to temper that with the national interest."
Mr Abbott said Qantas had not settled on a specific proposal to put to the government, amid speculation this could include the government giving it a loan guarantee or take a shareholding.
"I'm not sure that they really want to see a new government shareholding and the trouble with providing a government loan guarantee is where does that stop?" Mr Abbott asked.
"Once you start giving it to one business why shouldn't you give it to other businesses?"
Mr Abbott said the government would take time to consider the issue.
