Qantas board examining freight spin-off

<p>Qantas directors will meet this week amid speculation the airline is ready to spin off its freight assets into a separate division, following Toll’s successful split into separate rail and port entities.</p> <p>The <em>Australian Financial Review</em> reported this morning (Monday, July 16) that the Qantas board would consider the spin-off of its freight arm and frequent flyer scheme during a meeting this Wednesday.</p> <p>Qantas chief Geoff Dixon revealed in August last year that the company would separate its freight interests over the course of 12 months, before detaching it.</p> <p>Mr Dixon said last year that the freight division had &#8220excellent growth prospects&#8221.</p> <p>Qantas last year flagged the plan to consolidate its international and domestic freight line haul operations, domestic airfreight terminals and its 50% stakes in Star Track Express and Australian air Express (AaE), as part of cost restructures.</p> <p>Now it is claimed that Qantas is ready to split from its freight division, creating a separate entity that would include a fleet of more than 200 aircraft.</p> <p>The plan could mean that Qantas would effectively lease its freight aircraft from its separated freight entity. </p> <p>Meanwhile, Qantas will convert four Airbus A330s into tanker transports for the Royal Australian Air Force.</p> <p>The work will be performed at Brisbane Airport, taking six months to convert each aircraft. </p> <br />