Legislation easing foreign ownership restrictions on Qantas has passed both houses of Parliament.

The Government agreed to a compromise put forward by Labor meaning the airline will get more flexibility but remain majority Australian-owned.

The Qantas Sale Act will ensure no single foreign investor or foreign airline will be able to acquire more than 49 per cent of the carrier.

Government frontbencher Jamie Briggs told Parliament the changes go some way to boosting Qantas's ability to be competitive.

"Qantas will still operate under restrictions that do not apply to any other Australian airline but will have greater capacity to attract new investment," Mr Briggs said.

Opposition Leader Bill Shorten told Parliament that today was not one for division.

"Today's the day to recognise that despite our differences, despite the different values we hold, this Parliament does have the capacity to build consensus on the challenges facing our country, our future, our national interest," he said.