Qantas faces looming funding crunch to renew fleet: report

Sydney

AFTER delaying spending on its fleet for too long during a turnaround program, Qantas Airways Ltd faces a possible funding squeeze when it's time to buy new planes, according to S&P Global Ratings.

The Australian flag carrier needs to increase investment in its ageing fleet of 309 planes before the sum required is too large to handle, S&P said in a report released on Thursday.