Qantas to retire A380s as it continues buying new planes | The Business | ABC NEWS
After years of chronic underinvestment, Qantas chief executive Vanessa Hudson has embarked upon a massive fleet upgrade that will change Qantas’ earnings profile. Another 31 new aircraft arrive this year, adding to the 17 that have just landed as the A380 is retired. The new jets are fuel efficient, and they will allow Qantas to add more premium seats across its fleet. Ms Hudson said customers value premium experience and they “want to fly to more points on the globe without stopping” and these new aircraft will enable Qantas to provide that service. Aviation analyst Peter Harbison said there’s a lot of competition in this area, because many airlines are providing premium economy seats.
Qantas delivered $1.3 billion full-year profit but higher fuel costs from the oil shock in the Middle East hit the airline’s bottom line. Fuel is every airline’s biggest cost and while oil prices have eased in recent months, jet fuel is surging again. Domestic travellers remain the airline’s financial engine room, delivering $1.44 billion in underlying earnings. The international business managed less than half that, at just $650 million. Upsetting travellers is a plan to charge Jetstar customers for cabin luggage but Ms Hudson said the move will improve on time performance and deliver choice for customers.
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