Qantas delays new planes
Qantas will cut spending by a further $400 million in the next financial year by delaying the delivery of new A380 aircraft.
A review of the airline's maintenance operations had concluded, but a decision would not be announced until mid-May, Qantas said in a statement today.
The reduction cuts the carrier's planned expenditure on equipment in 2012-13 to $1.9 billion.
Qantas was to receive two new super jumbo A380s in early 2013, but will now take delivery of the aircraft in the 2016/17 financial year.
Another six A380s will be delivered to Qantas from 2018/19.
The spending reductions follow a previously announced $500 million worth of cuts, which included staff cuts in its catering, cabin crew, pilots, engineering and ground operations.
Qantas has also been reviewing its maintenance operations to identify cost savings, which is likely to result in job losses.
Chief executive Alan Joyce has previously said keeping three maintenance sites - Melbourne, Avalon and Brisbane - was not viable.
Qantas has also announced a big increase in capacity in its domestic business, as it fights to maintain at least 65 per cent market share.
It will step up competition against Virgin Australia by adding extra services during peak times on the busiest east coast business routes between Sydney, Melbourne and Brisbane.
It will also bring back Boeing 747s on its Sydney-to-Perth route, plus more Airbus A330s on the Melbourne to Perth route. Jetstar will also increase its capacity, while QantasLink will increase capacity across Queensland.