QANTAS ANNOUNCES NEW OWNERSHIP STRUCTURE FOR ASIA AND VALUAIR

SYDNEY, 2 April 2009: Today announced a new ownership structure for -based Jetstar Asia and Valuair to provide a new platform for growth in line with its pan Asian growth strategy.

The Qantas Group (Qantas) and the Singapore Company Westbrook Investments Pte Ltd (Westbrook) said it had acquired all shares in Orangestar Investment Holdings Pte Ltd (Orangestar), the previous ownership holding structure, via a new holding company Newstar Investment Holdings Pte Ltd (Newstar).

Westbrook, wholly owned by Mr Choo Teck Wong (Mr Dennis Choo), will have a 51 per cent shareholding in Newstar and Qantas will hold the remaining 49 per cent. Mr Choo, a Singapore national and partner with the Qantas Group for more than two decades, has significant experience in the travel and tourism industry and will become Chairman of Newstar. Jetstar Chief Executive Officer Bruce Buchanan and Orangestar Director Paul Edwards will also serve on the Board of the new entity. Ms Chong Phit-Lian will remain as Chief Executive Officer of both Jetstar Asia and Valuair.

Qantas Chief Executive Officer said the change in shareholder structure would see Jetstar Asia and Valuair more closely align with Jetstar’s Australian operations and provide a platform for the Jetstar brand to grow into more markets in the region in anticipation of more open skies across Asia.

“The new structure for Jetstar Asia and Valuair will provide a platform for growth and strengthen existing Qantas group services in Singapore,” Mr Joyce said.

“A unified and simpler shareholder structure and vision for Jetstar Asia and Valuair provides certainty for these airlines and greater commercial and operational alignment, achieving new synergies across the airlines.

“The airlines will continue to operate the same network with no impact on existing employees, customers, flight bookings or supplier relationships.

“This is the right path forward for the airlines, their employees and most importantly our customers, who will have access to an award winning product offering across every market.”

Mr Buchanan said coordination of Jetstar Asia, Valuair and Jetstar operations would provide better opportunities for customers by aligning their product offerings, while ensuring the highly efficient Jetstar business model is applied across each business.

Singapore nationals will hold the majority of Board Director positions in Newstar and its airline operations will continue to enjoy Singapore traffic rights.

Issued by Qantas Corporate Communication (Q3907) Media Enquiries: Joe Aston T: 02 9691 4200

Qantas Airways Limited ABN 16 009 661 901 Further information and media releases can be found at the Qantas website: qantas.com Background:

Jetstar Asia first commenced operations in December 2004 and with its subsequent merger with Valuair now directly employs over 280 staff. Its corporate headquarters is in Singapore.

In combination they operate seven A320s, serving sixteen South East Asian destinations.

The Qantas Group had previously held a 45.04 per cent holding in Orangestar.

Jetstar in (Jetstar Airways Pty Limited) has been profitable since its start-up in May 2004 and through extension of its brand within Australia, New Zealand, Asia and the Asia Pacific now operates to over 50 destinations.

This includes daily return services into Singapore from Australia four* times daily.

Jetstar currently operates double daily Darwin-Singapore and daily -Singapore services and offers a seamless link to Singapore through Darwin from Cairns, Melbourne (daily), Brisbane (daily) and Sydney (five times weekly) with its A320 fleet.

Jetstar will extend its existing four times weekly Perth- (Bali) and three times weekly Perth- A320 services onwards to Singapore* from 14 July 2009*.

Jetstar’s existing pan Asian network is also supported by a strategic investment in Vietnam’s second largest domestic airline, Jetstar Pacific, where the Qantas Group has a 27 per cent holding with the option to move to 30 per cent in 2010.

The organisation now directly employs 3,000 personnel. Its corporate headquarters is in Melbourne.

* Subject to regulatory approval