Australian carrier Qantas posts $673m annual net profit
Qantas Airways
Sydney - Egypt Today
Qantas Airways posted a 17.2 percent slip in annual net profit of Aus$852 million (US$673 million) Friday after record results last year, with the Australian carrier also announcing a share buyback.
The airline's underlying profit before tax, its preferred measure, was the second-highest in its history at Aus$1.4 billion in the year to June 30.
The results, which followed a record net profit in the previous financial year, came after the completion of an aggressive three-year restructuring process that saw it slash jobs and reduce its aircraft fleet.
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