Qantas lifts FIFO target: report

Airline meets initial Western Australia market share goal, eyes an increase.

Qantas Airways (QAN) has lifted its target for fly-in/fly-out market share in Western Australia to 40%, The Australian Financial Review reports.

According to the newspaper, the increase comes after the airline met its initial target of 30% of market share, excluding commercial routes such as Perth to Port Hedland.

The news follows its deal to provide charter operations to Hancock Prospecting's Roy Hill Pilbara iron ore project, as well as its agreement with Fortescue Metals Group (FMG).

Qantas had only 5% market share before December 2010, when it bought Perth-based charter operator Network Aviation for $30 million, the AFR reports.

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