Qantas reported an underlying profit before tax of $1.53 billion for the 12 months ended 30 June 2016 – the best result in its 95-year history. The record performance is a 57% improvement on financial year 2015. 

Total underlying EBIT in the domestic market – across both Qantas and Jetstar – was a record $820 million, up $191 million, and total underlying EBIT in the international division was $722 million, up $374 million. Return on invested capital was 23%, compared with 16% at 30 June 2015.

Effective fuel hedging saw the Group secure a $664 million benefit from lower global fuel prices compared with financial year 2015, passing a proportion of these savings through to air fares – which are up to 40% ower than a decade ago in the Australian market.

Qantas announced a $23m investment in a new flight simulator and other training equipment as part of the airline’s preparations for the arrival of the Boeing 787-9 Dreamliner.

Over the past 12 months Qantas has announced new investment in eight Boeing 787-9 Dreamliners for Qantas International, super-fast inflight wi-fi for Qantas Domestic, and new lounges in London Heathrow and Brisbane, in addition to the refresh of Qantas’ Airbus A330 and Boeing 737-800 fleets.