How Qantas' $128 Billion Fleet Renewal Project Is Reshaping The Airline's Future

Qantas’ $128 billion fleet renewal project is reshaping the airline’s long-term network as it transitions from replacing aging aircraft to redesigning connectivity for decades. The program is built around four main pillars, including Project Winton with 48 Airbus A321XLRs and 29 Airbus A220-300s replacing Boeing 737-800s and 717s on domestic and short-haul routes. Project Sunrise will introduce 12 Airbus A350-1000ULRs with a 5,283-gallon (20,000 L) rear center fuel tank to enable nonstop services from Australia’s east coast to London and New York. Project Fysh adds 12 A350-1000s and 12 Boeing 787-10s to replace the aging A330 fleet and support the eventual retirement of the A380. A Bloomberg report in late May 2026 says Qantas is studying up to 20 additional widebodies, either A350s or 787s. Qantas posted A$1.456 billion underlying profit before tax in 1H FY2026 and plans A$4.1–A$4.3 billion capex in FY2026, rising to A$5.1–A$5.4 billion in FY2027. New jets are expected to cut fuel burn per seat by 20% to 30%.