Qantas Airways, an Australian company with an Australian citizen as its Chairman, as well as Australians having majority of its ownership is reported to look north for the airline's future growth and profitability.

Hence, the airline, is said to have gone into Asia as the ‘centerpiece of its turnaround strategy’, and Qantas Chief Executive, Alan Joyce disclosed plans to build a new premium airline in an unrevealed Asian hub with Singapore and Kuala Lumpur as two likely locations.

However, Qantas is said to own over 49 % of the unknown airline, which will not take the name Qantas, will fly within Asia and from the fastest-growing aviation market in the world to Australia.

The first fleet of 11 Airbus A320 aircraft is been targeted for the venture which has got unions disturbed regarding further job losses.

Mr. Joyce stated: “it is one of the most significant increases in network expansion that we will see, and for the first time in our history, Qantas intends to fully participate in the benefits of an Asian aviation hub”.

Moreover, the new strategy is said to be the ‘new spirit of Australia’, which will bring about new sources of revenue, profit and protect the interest of the country such as securing thousands of jobs.