Qantas hopes to spread its wings even further with the purchase of eight new high-tech Dreamliner aircraft.
The flying kangaroo has finally committed to buying the fleet of Boeing 787-9 Dreamliners, which cost $US264 million ($A359.01 million) each and are known for their fuel efficiency and passenger comfort.
The new aircraft will replace five of the airline's ageing Boeing 747 jumbo jets, which were first introduced in the 1970s.
Chief executive Alan Joyce described the investment in the aircraft, slated to be in the air by 2018, as a watershed moment for the national carrier.
The mid-size jets are 20 per cent more fuel efficient than other planes, allowing airlines to fly more long-haul routes.
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"It allows us to open up markets that we've never considered before, markets that couldn't have worked before with the 747s," Mr Joyce said as he unveiled Qantas' latest profit result on Thursday.
"Markets like Melbourne to Dallas are opened up to us because the aircraft has potential range to do that in both directions."
While Dreamliners carry about 100 fewer passengers than 747 jumbos, Mr Joyce said the aircraft's operating flexibility made up for the overall carrying capacity.
Along with their efficiency and cheaper maintenance costs, the Dreamliners feature larger windows, better cabin air filtration systems and technology that reduces cabin pressure and turbulence.
Qantas went through with the purchase after pulling off a $3.3 billion profit turnaround in the past year.
It also wrangled a new enterprise bargaining agreement, including an 18-month pay freeze, with many of its staff.
Qantas' budget airline Jetstar already has 11 of the slightly smaller 787-8 Dreamliners.
The aircraft are currently used by about 60 airlines around the world including Air New Zealand, British Airways, Etihad Airways and Virgin Atlantic.
Qantas has 15 further options and 30 purchase rights for additional 787s.
THE DREAMLINER EFFECT
* Cost: $US264m ($A361.87m)
* Capacity: 250-290 passengers
* Range: up to 14,140km
* 20pct more fuel efficient than Boeing 767, Airbus A330
* Cruise speed: 510 knots
* Spacious stowage areas
* LED lights
* Turbulence reduction technology.
