Qantas shares lifting off today on ‘history making’ news

Qantas Airways Ltd (ASX: QAN) shares are flying higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) airline stock closed yesterday trading for $9.98. In late morning trade on Thursday, shares are swapping hands for $10.08 apiece, up 1%.

For some context, the ASX 200 is down 0.3% at this same time.

This comes as Qantas announces the pending launch of its “history making” flights to London.

Here’s what’s happening.

Qantas shares rise ahead of historic flights

In an update released after market close on Wednesday, Qantas announced it will launch its non-stop ‘Project Sunrise’ flights between Sydney and London, commencing in October 2027.

Potentially offering longer-term support for Qantas shares, this will be the first-ever non-stop commercial flight service connecting Australia’s east coast to the United Kingdom.

Qantas noted that it first began flying between Sydney and London way back in 1947. Back then, the ‘Kangaroo Route’ took four days, with seven refuelling stops on the way to the UK.

But with the new Airbus A350-1000ULR – part of the airline’s $15 billion fleet renewal program – that travel time will be cut to less than 22 hours.

The non-stop cross-global service has faced some delays, with Airbus pushing back the delivery of the planes from December to April. Qantas will take delivery of 12 aircraft in total, each configured with 238 seats across four cabins.

The first Sydney to London flights should then go into service within six months.

If you’re eager to head to the UK without stopovers, saving up to four hours of travel time, Qantas will begin selling Project Sunrise tickets in February.

What did management say?

“Qantas was built on the belief that Australia’s distance from the rest of the world should never stand in the way,” CEO Vanessa Hudson said on the pending launch of the service that could help boost Qantas shares.

“The pioneering spirit of generations of our people has forged that path ever since, and today is the most significant step in that mission in our 105-year history,” she noted.

Hudson added:

We made a commitment in 2017 that Qantas would conquer the final frontier of long-haul aviation and connect Australia’s east coast directly to London, something that has never before been possible. From October 2027, that promise becomes reality…

This aircraft has been designed from the ground up for ultra long-haul travel, with a cabin built around science and combatting jetlag, with an onboard experience purpose-built for the length of the journey.

The ASX 200 airline confirmed that non-stop Sydney-New York flights will be the next service to follow the Sydney-London launch. Management said the timing for these services will be announced next year.

With today’s intraday gains factored in, Qantas shares have soared 19% over the past month, buoyed in part by fast falling oil prices.

The post Qantas shares lifting off today on ‘history making’ news appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.