Qantas Airways (ASX:QAN) has released its financial report for the fiscal year, reporting an underlying profit before tax of A$2,465 million.

This comes in contrast to the previous year’s loss of A$1,859 million.

Revenue and other income has increased significantly, with a total of A$19,815 million reported as opposed to A$9,108 million in the previous period.

As of 30th June 2023, the Qantas Group’s fleet consisted of 336 aircraft.

The company has announced a market share buy-back of up to A$500 million, indicating continuing faith in the strength and profitability of the business.

At the end of June 2023, the airline’s net debt stood at A$2.89 billion.

Qantas Airways is an Australian airline, recognized as the flag carrier of Australia and its largest airline by fleet size, international flights, and international destinations.