Qantas’ trading update for the first quarter of FY19 is in and things are looking very healthy for the Flying Roo with revenue up 6.3% to $4.41 billion compared with the same period last year.

Along with these strong profits, the carrier has also announced a multi-million dollar investment in a new First Lounge and an expansion of the airline’s existing Business Lounge at Singapore’s Changi Airport.

Qantas said the new lounge investment in its Singapore hub was about “meeting increased premium travel demand”.

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“With the return of our A380 service to Singapore we’ve got more passengers transiting through our existing lounge and strong demand for travel in premium cabins,” Qantas CEO Alan Joyce said.

“Our top-tier Frequent Flyers tell us their pre-flight lounge ritual is one of their trip highlights and the Singapore First Lounge will be no exception.”

Qantas CEO Alan Joyce.

Overall the upgrades will more than double Qantas’ existing lounge capacity in Singapore.

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Work is set to begin on the lounges early next year, with the Singapore First Lounge to offer seating for 240 customers and a la carte dining with Asian-inspired menus.

Qantas also confirmed that its Boeing 747 fleet would continue to be phased out, with another 747-400 retired just last month.

The remaining nine are to be steadily phased out by the end of 2020. Meanwhile, they will take delivery of two 787-9s next month, taking its total Dreamliner fleet to eight.

Qantas attributed its strong financial results to the fact that rising fuel costs were substantially offset by net passenger revenue growth with forward bookings up 8% compared with same time last year.

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