Profits take off at Qantas Airways

Qantas Airways said it more than doubled annual net profit to AUS$250m (181.56m) and warned that the general operating environment is challenging and extremely volatile.

The Australian flagship carrier's result for the 12 months through June announced today compares with AUS$112m (€81.34m) in the previous year.

The result was below the market consensus of AUS$322m (€233.8m), according to a median of four analysts' estimates published by Australian Associated Press.

Qantas chief executive Alan Joyce said in a statement that the "result reflects the strength of the Qantas Group's portfolio and is our best performance since the global financial crisis".