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Qantas has made one of the biggest aircraft orders in aviation history, buying up to 188 narrow body aircraft in a move that will almost double its fleet.
The airline said the funding of the purchases - estimated at US$12 billion ($16 billion) - won't affect its investment grade credit rating.
Within the past week Emirates, Cathay Pacific and Qatar have also announced orders for bigger planes totalling more than US$50 billion.
Qantas' new aircraft will be used to defend its 65 per cent share of the Australian domestic market and to expand low cost services to Southeast Asia.
The plan also involves Jetstar opening new regional aviation bases in both Darwin and Perth over the next two years to serve fast-growing Asian markets.
A spokesman said none from this order were destined for New Zealand domestic routes.
Most of the new aircraft will be Boeing 737-800s, and Airbus A320s.
The order also includes larger A321 aircraft, which will have up to 213 seats, compared with 177 on an A320 in a Jetstar single-class configuration.
The first aircraft to arrive in February will be an A321.
"We expect to take at least 17 of those aircraft to expand Jetstar's opportunities in its fastest growing markets," chief executive Geoff Dixon said.
Qantas will acquire 68 A320/A321 aircraft and has 40 options and purchase rights. It will also buy 31 B737-800 aircraft, and has 49 options and purchase rights.
Emirates announced at the Dubai Airshow it had signed an order for 93 aircraft, including 78 from Airbus and 12 Boeing 777 jets, for a total of US$23.4 billion.
It has an option to buy 50 more Airbus planes for nearly US$12 billion.
Cathay Pacific Airways at the weekend also announced its biggest-ever direct-purchase commitment for new aircraft, placing firm orders for 10 Boeing 747-8 Freighters and a further seven Boeing 777-300ER passenger aircraft directly from the Boeing Company.
Qatar Airways, meanwhile, ordered 27 Boeing 777 planes in a $13.5 billion deal.
