Qantas to sell 21 B737-400s and two B767-300s

Qantas plans to sell 21 ageing Boeing 737-400 aircraft as the airline reduces capacity due to weaker-than-expected demand and high jet fuel prices (Sydney Morning Herald, 03-Apr-2011). The aircraft, which reportedly could be sold for AUD20 million (USD21 million) each, should give the airline a much-needed boost to its cash flow during a period of declining yields. Qantas is also selling a 20-year-old Boeing 767-300, in addition to the early retirement of two other B737-300s announced last week, which the airline has described as ideal for freighter conversion.