Qantas posts record $1.1 billion profit amid restructuring

Markets Associated Press

Qantas Airways Ltd. has posted a record full-year profit of 1.53 billion Australian dollars ($1.1 billion) after undergoing a cost-saving restructuring.

Continue Reading Below

The airline announced its financial results on Wednesday for the fiscal year through June. Qantas said it would pay its first dividend since 2009.

The strong performance for Australia's largest airline comes two years after it posted a record AU$2.8 billion loss. Qantas underwent a restructuring to cut costs, including axing thousands of employees.

The Sydney-based airline declared a dividend of 7 Australian cents per share and said it would pay AU$75 million in cash bonuses to 25,000 employees.