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Qantas Airways to launch leisure airline.


Australian carrier, Qantas Airways will reportedly launch a new airline for leisure travellers in October 2002.

The new airline - Australian Airlines - will operate as a low-cost, full-service, medium-haul carrier on routes to Asia. The carrier will initially begin operations with four aircraft, and may operate a fleet of 12 aircraft by the end of 2003.

Qantas is planning to raise AUD432m through two stock issues to purchase new aircraft and "fund other potential investment opportunities", according to The Associated Press.

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Publication:Airline Industry Information
Geographic Code:8AUST
Date:Aug 21, 2002
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