The profits of A$1.42 billion are nearly a doubling of last year’s result.
 
The airline will also resume dividend payments.
 
Qantas has been though a major restructuring after posting record losses in 2014.
 
The carrier said it will continue investment for customers, including extending Wi-Fi to Qantas’ regional and international fleets and finalising the network and customer experience for the Dreamliner.
 
Total underlying Ebit (Earnings Before Interest and Tax) in the domestic market – across both Qantas and Jetstar – was a record $820 million, up $191 million, and total underlying Ebit in the international division was $722 million, up $374 million.
 
The firm said its transformation programme has unlocked $1.66 billion in permanent cost and revenue benefits since early 2014.

Chief executive Alan Joyce said: “Our transformation programme is paying dividends for our shareholders, our customers and our employees.
 
“This was a true team performance, which shows that our strategy is the right one for the tough markets we’re operating in and the long-term opportunities we see ahead of us.
 
“Transformation has made us a more agile business, created value for our shareholders and given us a platform to invest for the future.
 
“Qantas is stronger than ever, but we’re also determined to keep changing and adapting so that we can succeed no matter what environment we’re in.”
 
Over the past 12 months Qantas has announced new investment in eight Boeing 787-9 Dreamliners for Qantas International, super-fast inflight Wi-Fi for Qantas Domestic, and new lounges in London Heathrow and Brisbane, in addition to the refresh of Qantas’ Airbus A330 and Boeing 737-800 fleets.
 
The first Qantas Dreamliner flights will open for sale before Christmas, on Qantas International’s existing network, with other international destinations for the Dreamliner confirmed shortly afterwards.

The group is planning for capacity growth of 2-3% in the first half of financial year 2017.
 
Joyce continued: “The Qantas Group expects to continue its strong financial performance in the first half of financial year 2017, in a more competitive revenue environment.
 
“We are focused on preserving high operating margins through the delivery of the Qantas Transformation programme, careful capacity management, and the benefit of low fuel prices locked in through our hedging.
 
“The long-term outlook for the group is positive, with clear strategic priorities and a robust financial framework to deliver for our customers, our people and our shareholders.”