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This article is from the soc.culture.australian FAQ, by Stephen Wales with numerous contributions by others.

12.3.14 What does QANTAS stand for?

"Qantas, n. The Australian international airline, founded in
1920 as the Queensland and Northern Territory Aerial Services
Ltd, with Sir Fergus McMaster as provisional chairman, P.J.
McGuinness and W. Hudson Fysh as the pilots and W.H. Baird as
the mechanic."

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