AUSTRALIA'S largest airline has returned to profit helped by strength in its domestic business and the turnaround of its international arm, but warns conditions remain challenging and volatile.
Qantas posted a net profit after tax of $5 million for the 2012/13 financial year after a loss of $245 million the year before.
Underlying profit before tax, which excludes one-off items, rose by 102 per cent to $192 million.
The airline says the result was helped by a steady improvement in its international business and the growth of its discount airline Jetstar in Asia.
Qantas launched its international alliance with the Dubai-based airline Emirates late in the financial year, and chief executive Alan Joyce says the "full benefits" of the deal will start to flow from 2014-15.
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