- Dec 6, 2004
theaustralian.news.com.au said:Qantas seeks $350m for new aircraft
Steve Creedy, Aviation writer
March 28, 2006
QANTAS is thought to be seeking almost $350 million in loans to buy seven new aircraft to service its domestic and New Zealand routes.
The loans were being arranged by ANZ Bank, which would then syndicate them to a wider group of lenders, according to Bloomberg. Reports from Australia, Singapore and the US put the value of the loans at between $341 million and $350 million.
The loans would be used to buy five Boeing 737-800s and two Airbus A320s and would mature in nine to 12 years, the report said.
Reports of the loans came as Qantas announced it would convert four 737-300 passenger aircraft to freighters and lease them to its freight joint venture with Australia Post, Australian Air Express.
Work on converting the aircraft using Israeli conversion kits will start next month and the aircraft will replace three ageing and less efficient Boeing 727 freighters at AeA.
The aircraft will come from the airline's New Zealand operations and will be replaced by four Qantas 737-400s.
The freighter conversion is the first such work to be done in Australia and Qantas chief executive Geoff Dixon said it would create 60 new jobs at a new operation to be established in Avalon, Victoria.
"We are pleased the work will be undertaken in Australia," he said.