QABSY - Qantas Airways converting 2 passenger planes into freighters to support shift to online spending

Qantas Airways (OTCPK:QUBSF) announces that it will convert two of its Airbus A330 passenger aircraft into dedicated freighters to take advantage of consumer shifts to online shopping. “Our freight business has boomed during the pandemic and while some of that is temporary, COVID has accelerated the permanent expansion of eCommerce and online shopping in this country,” CEO Alan Joyce said. As of June 30, 2021, Qantas Freight operated 9 aircraft, compared to 224 that flew for Qantas and 78 for its low-cost airliner JetStar. The conversion of the two A330 will "significantly increase" capacity for both domestic and international freight. The first A330 aircraft, which will be flown by Australia Post, will start its conversion in August 2022 and is expected to start operating in mid-2023 with the second to start operating in late 2023. Shares are up 12.86% AH following a general trend in the airline sector.

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Qantas Airways converting 2 passenger planes into freighters to support shift to online spending