Qantas Airways sets $1.36 billion annual spending target

Qantas is also expected to place an order next year to replace its domestic fleet, which is dominated by 75 737 NGs but also includes 20 717s and 17 Fokker 100s.In the quarter ended Sept. 30, Qantas reported a near 1% fall in unit revenue in its domestic business, which typically dominates profits, driven by a fall in demand for its budget carrier Jetstar.

Margins at Australian airlines have been squeezed by fuel costs and weakness in consumer spending, as well as falling business confidence as economic growth in Australia falters. Last week, Chief Executive Alan Joyce said the airline would decide by the end of the year whether to implement the ultra long-haul flights it has been testing. Non-stop flights to London and New York from Sydney and an order for Airbus A350-1000 or Boeing 777-8 planes could follow early next year.Reporting by Jamie Freed and Nikhil Kurian Nainan; Editing by Chris Reese and Lisa Shumaker

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