Increased reliance on the oneworld alliance and tapping into the growth potential of Asia are the cornerstones of a five-year plan to turnaround the Qantas Group’s international operations. The loss-making division Qantas is seeking to restructure through consolidated long-haul flying, a new premium airline will be established in Asia that will see Qantas introduce a third brand, and significant fleet and product changes have been announced. Qantas also confirmed it would establish a new Jetstar subsidiary in Japan with Japan Airlines and Mitsubishi. The carrier is finally owning up to irreversible changes in the competitive landscape. But the key risk lies in the implementation of the plan.