After an initial pullback, Qantas Airways Ltd (ASX: QAN) shares have come roaring back following the announcement of a strategic partnership between Virgin Australia and Qatar Airways Group.

As the Motley Fool reported on 1 October, Virgin Australia announced that, subject to Foreign Investment Review Board approval, Qatar Airways plans to acquire a 25% equity stake in Virgin from Bain Capital.

Qantas closed down 4.5% on the day of this news, which could increase competition and drive down airfare prices.

However, that pullback would have been an opportune time to snap up Qantas stock.

Since market close on 1 October, shares in the S&P/ASX 200 Index (ASX: XJO) airline stock have soared 18.1% to currently be trading for $8.46 apiece.

As you can see on the chart below, this sees Qantas shares up a whopping 62% in a year.

Now, here’s how Qantas aims to grow its global footprint.

Qantas shares targeting global growth

Australia’s biggest airport and the country’s biggest airline have had a few quibbles in recent years.

But it looks like the two companies may be ready to bury the hatchet.

Speaking at the Financial Review Infrastructure Summit yesterday, Sydney Airport CEO Scott Charlton said (courtesy of The Australian Financial Review) that the airport “has been a bit arrogant” towards Qantas in the past.

Now, Sydney Airport is keen to help Qantas shares grow with the airline’s nascent Project Sunrise. That’s the one that offers non-stop flights between Sydney and New York, as well as Sydney and London.

“We’re very keen on growth, and how do we help Qantas grow? We’re very excited about their Project Sunrise,” Charlton said.

Qantas head of international and freight Cam Wallace said that Project Sunrise provides Qantas with a huge advantage over rivals, including Qatar, due to Qantas’ investments in next-generation long-haul aircraft.

Commenting on Qantas’ ongoing investments in new A350 aircraft, Wallace said, “All of the Project Sunrise A350s are actually for us to grow, and when I look at Qantas International, we need to bulk up.”

Wallace added:

We need to be bigger. We need to take Australians to more places on a point-to-point basis. And one of the great things about these new aircraft is, they open up our network, so it provides us lower unit costs, so more flexibility, and the aircraft can fly further in a more efficient way.

And this advantage could offer ongoing tailwinds for Qantas shares, as the airline can charge a premium for its uninterrupted across the globe flights.

“A network advantage flying from Sydney to Heathrow is going to be very difficult to equalise because we are the only ones that have those aircraft,” Wallace said.