Qantas Group announces changes to fleet plan including restructure of 787 orderbook

Qantas Group announced (23-Aug-2012) it will restructure its fleet plan as part of the five-year Qantas International turnaround plan with the following changes:

• Deliveries of 15 Boeing 787-8 aircraft to Jetstar will continue as planned with the first aircraft to be delivered in 2H2013. This will see the transfer of A330 aircraft from Jetstar to Qantas Domestic in order to eventually retire 767 aircraft from the Qantas fleet;
• 787-9 commitment reduced from 85 to 50 with firm commitments for 35 787-9 aircraft cancelled while 50 787-9 options and purchase rights will be retained. These will be brought forward by two years to be available for delivery from 2016;
• Reconfiguration of nine 747-400 aircraft will be completed by late 2012.

Qantas Group CEO Alan Joyce said the fleet plan changes are in line with the goals of the Group's broader strategy. Mr Joyce said, "The B787 is an excellent aircraft and remains an important part of our future. However, circumstances have changed significantly since our order several years ago. It is vital that we allocate capital carefully across all parts of the Group.... We have the right fleet strategy to deliver continued customer satisfaction and position us for sustainable growth over the long term, while enabling us to retain flexibility and manage our capital requirements appropriately." [more - original PR] [more - CAPA Analysis]