Qantas Cuts FY13 Capex By A$400 Million; Delays A380 Deliveries
May 03 2012 - 7:25PM
Dow Jones News
Qantas Airways Ltd. (QAN.AU) said Tuesday it has cut its capital
expenditure budget for next financial year by another A$400 million
to A$1.9 billion after delaying the delivery of two Airbus A380
superjumbos.
Qantas said the two double-deck aircraft will now be delivered
in the 2017 financial year, later than their original planned
delivery date in early 2013. Capital expenditure in the 2014
financial year will be A$1.9 billion or less, the Australian
airline said.
The final six A380s will be delivered from the 2019 financial
year, bringing its total fleet to 20.
Qantas said it expects benefits from an overhaul of its
loss-making international flights business, that included cutting
some routes, of A$280 million-A$365 million to be realized across
the 2012-2014 financial years.
Airbus is a unit of European Aeronautic Defence & Space Co.
(EAD.FR).
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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