Qantas has announced that it had appointed Citigroup Global
Markets Australia Pty Limited (Citi) and UBS AG, Australia Branch (UBS) to undertake the on-market
buy-back of approximately 10 per cent of its shares.The Chief Financial Officer of Qantas, Mr Peter Gregg, said the buy-back - which was announced on
16 August - was expected to commence in September after relevant approvals had been completed.
He said the duration of the buy-back would depend on market conditions and any governance issues
that might arise during the buy-back.