Qantas back in black with $978 million half-year profit

SYDNEY (AP) — Australian national carrier Qantas has posted an underlying pre-tax half-year profit of 1.43 billion Australian dollars ($978 million) in the airline’s first return to profit since the coronavirus pandemic started three years ago. The first-half result for the six months through December posted on Thursday is at the top end of the airline’s forecast for an underlying profit between AU$1.35 billion ($923 million) and AU$1.45 billion ($991 million). The statutory net profit for the six months was AU$1 billion ($684 million), compared to a AU$456 million ($312 million) net loss a year earlier. Australia had some of the world’s toughest restrictions on international and domestic travel during the pandemic, which hit the Sydney-based airline hard.