22.02.201802:46:00UTC+00Qantas Airways Posts Record Half Year Profits

Qantas Airways reported record profits for the six months to December.

Australia's national flag carrier, which has undergone a major restructuring program in recent years, booked underlying profits of 976 million Australian dollars.

Three years ago, the flying kangaroo, as the airline is most commonly known, booked record losses. Now, its turnaround to profit is perceived as one of the biggest in the country's corporate history.

The half-yearly fiscal results denotes a 14.6 percent rise in underlying profit from the same period a year earlier and comes amid higher fuel prices and stronger competition in the local scene.

The carrier's underlying profit is the measure mostly tracked by analysts and investors. The company's Sydney-listed shares ended higher, up by almost 6 percent.

The firm reported overall revenue and other income increased 6 percent to $8.66 million over the same period. Qantas also announced a share repurchase program worth $378 million.