Manufacturing Industry
Qantas to replace aging 747 aircraft
Airline Industry Information, Oct 26, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Australia's Qantas Airways is to invest USD4bn in new aircraft to replace its aging fleet of Boeing 747s according to its chief financial officer.
Qantas is expected to announce a deal for either Boeing 777 or Airbus A340 aircraft in early 2005. Both aircraft would allow the carrier to fly non-stop to Europe, the US, the Middle East from parts of Australia, reducing its refuelling and landing costs.
The airline's chief financial officer Peter Gregg was quoted as saying that the new aircraft would be funded through existing debt and the airline's cash flow, reports The Associated Press.
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