Australia's Qantas Plans Expansion Of International Network With More Aircrafts, New Routes - Qantas Airways (OTC:QABSY)

Qantas Airways Ltd.QABSY plans to expand its international network with more aircraft and new routes amid solid travel demand and the broader recovery of the aviation industry.
The Australia-based transportation services provider will add around one million seats to its international network starting late October this year.
With the new changes, Qantas sees its international capacity grow to around 100% of pre-covid levels by March 2024, up from 84% today.
Over the past six months, Qantas has brought five international aircraft back into its fleet.
A new Boeing 787 Dreamliner arrived in May, and another two will be delivered next month.
The company will lease two Airbus A330 aircraft from Finnair on two Qantas routes.
This apart, Qantas will introduce more flights to destinations like Tokyo, Los Angeles, and New York, including two new international routes from Brisbane.
To support the extra flying, Qantas is planning to hire 300 people by the end of the year. It is besides the 2,400 pilots and cabin crew Qantas has recruited since borders reopened.
The company has also started the construction of a new flight training center in Sydney, which will train up to 4,500 Qantas and Jetstar pilots and cabin crew each year from early 2024.
"There is still a mismatch between supply and demand for international flying. But with more of our aircraft back in the air, new 787s joining our fleet and our contract with Finnair, we've got more seats for our customers and more opportunity for Qantas crew as we increase our own flying," said CEO Alan Joyce.
Price Action: QABSY shares were up by 0.45% to $21.33 at the close Thursday.
Photo via Wikimedia Commons

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