- Qantas Airways Limited (OTC: QUBSF) said it plans to start direct flights connecting Australia’s east coast with New York and London. It has ordered Airbus SE (OTC: EADSY) jets for the ultra-long services, reported Bloomberg.
- The airline announced Monday that it is buying 12 A350-1000s that can fly nonstop from Australia to any city in the world. Commercial services will begin from Sydney in late 2025, mentioned Qantas.
- “We’re finally seeing a sustained recovery in travel demand,” Chief Executive Officer Alan Joyce said.
- More than 40% of the cabin will be premium seating compared with about 30% in Qantas’s Boeing 787s and Airbus A380s. The new planes will have “a wellbeing zone” in the middle where passengers can stretch or take a break.
- The A350s will be delivered to Qantas from 2025 until 2028.
- Qantas also stated that the recovery in business air travel has been stronger than projected. Small business demand has surpassed pre-Covid levels, and corporate travel has recovered to an 85% level.
- Qantas’ domestic capacity will be 105% of 2019 levels in the current quarter. International capacity is forecast to be just under 50% in the same time, climbing to nearly 70% in the July quarter, according to the airline.
- Price Action: QUBSF shares closed higher by 7.31% at $4.11% on Friday. EADSY shares are trading lower by 0.30% at $27.19 during the premarket session on Monday.
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