As QF seeks to improve the bottom line it has announced that it intends buying international air freight company Australian Air Express and sell its half stake in domestic road freight company Star Track to Australia Post. Both companies are currently owned 50-50 by Qantas and Australia Post and operated as joint ventures.
If approval by Australian Competition and Consumer Commission (ACCC) and the Federal Government is obtained, Australian Air Express will be rebranded as Qantas Freight.
Expected to boost Qantas's bottom line by $30 million, Alan Joyce has said that that the company will use the cash raised to pay down debt. The move also represents what Joyce has stated as "focusing in on part of the business that we do regard as core," - i.e. the air transport side of the business.