The overhaul is to be carried out over a period of three years and is said to be the single largest investment by the flag carrier in its lounge network in over a decade.
This includes the airline’s plans to open its new flagship First Lounge at the UK’s London Heathrow Airport.
It will be the fifth Qantas-run first-class lounge, joining the likes of Melbourne, Sydney, Los Angeles, and Singapore.
The latest investment will also see the re-opening of the enhanced Hong Kong International Lounge in April after its closure due to the pandemic.
The International Business Lounge in Sydney will also be renovated and expanded, boosting capacity by 40% to more than 600 seats.
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Work will begin early next year, with stage one projected to conclude by early 2025.
Qantas will also update and expand its International Business Lounge in Melbourne, with plans to grow its capacity by up to 30%. The project will be conducted in stages from late this year, with stage one planned to launch in the middle of 2024.
Qantas will also relocate the Hobart Qantas Club to a new venue, expanding the seating capacity from 96 to almost 150.
It will launch the new Broome Regional Lounge next year, with a seating capacity of nearly 100.
Qantas currently has 42 lounges in Australia and nine in overseas locations.
Qantas Group CEO Alan Joyce said: “Being back in profit means we’re back to making long-term investments for our customers. That started with the major aircraft order we announced last year and now we’re building on that with a major investment in our lounges.
“Millions of people a year visit our lounges and they are typically our frequent flyers who travel with us the most, so anything we do to improve them is a way of saying thank you to our most loyal customers.
“We have three new and upgraded lounge spaces due to open this year and the pipeline we’re announcing today will take us through to 2025.”