Qantas has unveiled a substantial increase in profits for the first half of the year.

Qantas has unveiled a substantial increase in profits for the first half of the year.

The carrier which offers flights to Australia from around the world, reported a underlying profit before tax of AU$ 417 million – 56 per cent increase compared to the same period last year.

Alan Joyce, the airline’s chief executive, explained that Qantas is one of the world’s only airlines to report a profit during the current financial downtown.

He added: “The Qantas Group has delivered a strong result and is, again, one of the few airlines to remain consistently profitable and continue to hold an investment grade credit rating.

“All parts of the Group performed well, with Jetstar and Qantas Frequent Flyer delivering record half-year profits and Qantas Airlines’ performance significantly improving.”

Qantas has also confirmed the expansion of its fleet in order to meet its growing domestic and international needs, with the lease of five additional B737-800s.

Written by Ruth Norris.

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