The Qantas Group will restructure its Boeing 787 aircraft delivery schedule as part of the five-year Qantas International turnaround plan. Deliveries of 15 B787-8s to Jetstar will continue as planned, with the first aircraft to arrive in the second half of 2013. This will enable the transfer of Airbus A330 aircraft from Jetstar to Qantas Domestic, and the eventual retirement of Qantas’ Boeing 767 fleet. Fifty B787-9 options and purchase rights will be retained and brought forward by almost two years, available for delivery from 2016. However, firm commitments for 35 B787-9s will be cancelled. The restructure means a two-year delay in the Group’s first B787-9 delivery. The changes will result in a reduction in capital expenditure commitments that would equal US$8.5bn at list prices. Qantas Group CEO Alan Joyce said the changes were consistent with the goals of the Group’s broader strategy.
“Qantas continues to practice disciplined capital management and, in the context of returning Qantas International to profit, this is a prudent decision,” 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.
“Qantas has always maintained flexibility in its fleet plan and made changes when required. We have now substantially completed our fleet renewal program for the Qantas Group, with 114 new aircraft delivered over the past four years. Our average scheduled passenger fleet age is 8.3 years, the lowest since privatisation and highly competitive by international standards.”
