A group of investors is sizing up Qantas to take up a major stake, and a seat at the boardroom table, which would dramatically shake up the Australian flag-carrier.
The Australian Financial Review reports that the consortium "would push for the sale of ??Qantas Frequent Flyer and a partial float of Jetstar to return capital to shareholders", along with "a more aggressive expansion of the mainline carrier into Asia."
This is said to include more direct flights between Australia and Asian capital cities as well as "securing a tie-up with an Asian carrier such as Cathay Pacific to lock down the regional market."
Also on the to-do list would be to steer first deliveries of the Boeing 787 Dreamliner to Qantas International rather than Jetstar, in the belief that the 787's fuel efficiencies, reduced maintenance and travel-friendly attributes would help speed the Red Roo's loss-making international arm back into profitability.
The Qantas Group previously had 50 of the 787s on order, to be split between its primary Qantas fleet and Jetstar, but in August this year cancelled all but 15 of those orders to rein in costs, with those 15 Dreamliners slated for its low-cost sibling Jetstar.
For the full story, click through to The Australian Financial Review.
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