Queensland Transport Minister John Mickel has decided not to privatise Queensland Rail but has foreshadowed job losses whilst it is restructured, according to a report in The Financial Review.

Mr Mickel is reportedly in favour of more joint ventures with the private sector, and has admitted the rail operator will need to improve its performance in light of Asciano's Pacific National taking aim at the hitherto monopoly that QR had on Queensland coal transport.

The statement follows recent Queensland Government announcements on the sale of Cairns and Mackay airports and its 12.5 per cent share of Brisbane airport.

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