Qantas Airways posts record profit and resurrects dividend

Qantas Airways yesterday posted a record annual profit and declared its first final dividend in eight years, reaping the benefits of a largely completed restructuring despite a global travel downturn.

Australia’s flagship carrier — known colloquially as the ‘flying kangaroo’ — has shed thousands of staff, cut capacity to keep ticket prices up and locked in fuel hedging contracts that let it benefit from a slump in the oil price.

“Transformation has made us a more agile business, created value for our shareholders, and given us a platform to invest for the future,” chief executive Alan Joyce said.