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Qantas Frequent Flyer Revamp: 20M New Seats, $120M Cost
Qantas Frequent Flyer's biggest revamp in its 35-year history, Classic+, promises 20 million new rewards seats and at a cost to Qantas of Au$ 120 million. Citi believes only 10% to 20% of these seats will be redeemed and, hence, a lower cost to Qantas of $70m. UBS believes the impact of Classic+ will be immaterial to earnings and cash flow.
