Qantas Announces CFO Succession

Sydney, 19 August 2008

Qantas Airways Limited announced today that Peter Gregg would step down as Chief Financial Officer (CFO) and as a member of the airline's Board on 30 September 2008.

Mr Geoff Dixon, the Chief Executive Officer of Qantas, said Mr Gregg would be succeeded as CFO of Qantas by Mr Colin Storrie, currently the Deputy CFO (see biography below). Mr Storrie will assume the CFO role and take a place on the Qantas Board on 30 September.

Mr Gregg will assist with the transition to a new CFO and leave Qantas on 31 December 2008.

Mr Dixon said Peter Gregg, who was appointed CFO in September 2000, had been integral to the airline's success over the past decade.

"Peter has made a wonderful contribution in both the financial and strategic directions of Qantas over the past eight years and has served the company and shareholders with distinction," Mr Dixon said.

Mr Gregg said: "It has been a privilege to have contributed to the management and strategic development of this great company. With a new incoming CEO, I believe that signalling now my intention to step down from both my executive and non-executive roles is in the best interests of shareholders and the company."

Biography - Colin Storrie

Colin is 39 years of age and has over 10 years of experience in senior financial roles at Qantas. He has held the positions of Group Financial Controller, Group Treasurer and for the past five years Deputy CFO with responsibility for the Group Finance function.

Colin has been a member of the Qantas Executive Committee since October 2005 and has been a director of Australian air Express, Star Track Express, Qantas Superannuation and Jet Turbine Services.

Prior to joining Qantas Colin had several years of experience in finance and accounting roles within investment banking and the NSW government.

He is a Certified Practising Accountant, a member of the Australian Institute of Company Directors and holds a Bachelor of Commerce degree and a Graduate Diploma in Management.

Issued by Qantas Corporate Communication (3807)