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Australia's Qantas makes additional cuts to FY13 capital expenditure

05-04-2012 15:10 BJT

SYDNEY, May 4 (Xinhua) -- Australia's Qantas Airways announced on Friday that it will reduce capital expenditure in next financial year by a further 400 million AU dollars (410.52 million U.S. dollars) in addition to the 500 million AU dollars (513.15 million U.S. dollars) announced in February, as it pursues competitiveness in all business areas.

The Australian largest airline said the reduction in 2012/13 expenditure would be achieved through changes to Qantas's fleet plan, including delaying delivery of new A380 aircraft.

Two Airbus A380s previously planned for delivery in early 2013 will be delivered in 2016/17 and the company's final six A380s will be delivered from 2018/19, Qantas said.

Qantas also announced a big increase in capacity in its domestic business, as the airline wants to ensure that it maintains at least 65 percent market share.

"Our goal in the domestic market remains simple and consistent - we intend to retain the market share that enables us to maximize profit," Qantas Chief Executive Officer Alan Joyce said in a statement on Friday.

Editor:Wang Lingfei |Source: Xinhua

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