Quantas reschedules A380 deliveries to reduce capital expenditure

The Qantas Group will reduce capital expenditure in 2012/13 by a further $400m in addition to the $500m announced in February, as it pursues competitiveness in all business areas. Capital expenditure in 2012/13 will now total $1.9bn compared with the $2.3bn previously planned, consistent with the Group’s commitment to disciplined capital management. Capital expenditure in 2013/14 will be $1.9bn or less. The reduction in 2012/13 expenditure will be achieved through changes to the Group’s fleet plan, including the rescheduling of two Airbus A380s previously intended for delivery in early 2013. These aircraft will now be delivered in 2016/17. The Group’s final six A380s will be delivered from 2018-19.