QANTAS Freight has postponed a plan to upgrade its B747 ACMI freighter contract to a newer, longer-range variant.
The Australian carrier has decided not to finalise a new lease agreement because of weak market conditions in the Asia Pacific region.
In April, Qantas announced its intention to lease a B747-ERF for its global airfreight product.
“In light of recent soft international airfreight market conditions Qantas has elected not to finalise this lease agreement,” says a spokesperson.
“Qantas Freight was intending to replace an older B747-400 freighter with the near-new aircraft, but will not proceed at this stage.”
The change does not affect Qantas Freight's current services and the existing international freighter schedule remains in place, a statement adds.
“The airfreight industry is cyclical and Qantas will re-examine options when the markets have strengthened,” it adds.