Fair Work Australia's rejection of job security protections sought by Qantas employees exposes a loophole in the Fair Work Act that should be closed, said Greens Deputy Leader and workplace relations spokesperson, Adam Bandt.

"Powerful employers will see this as a green light to bypass negotiations with their employees and instead take extreme action like lockouts, closing schools or grounding fleets, knowing they will be rewarded with a fast-track to a favourable resolution in Fair Work Australia."

Greens Deputy Leader and workplace relations spokesperson Adam Bandt has welcomed the release of the Fair Work Act review and says the Greens are ready to work with the government on amending the Fair Work Act.

Mr Bandt said there are many positive recommendations in the report but also some areas of concern, such as the weakening of the 'better off overall test', new greenfields provisions and the removal of holiday penalty rates in some States and Territories.