August 22, 2018 / 10:35 PM / a month ago

Australia's Qantas posts record annual profit on higher domestic revenue

Aug 23 (Reuters) - Australia's Qantas Airways Ltd on Thursday posted a record annual underlying profit bolstered by a jump in domestic revenue as it cut capacity and raised fares, and announced a A$332 million buy-back program.

The airline's underlying pre-tax profit, its most closely watched measure, rose to A$1.60 billion ($1.17 billion) for the 12 months ended June 30 from A$1.40 billion a year earlier.

That was largely in line with an average estimate of A$1.61 billion from nine analysts, according to Thomson Reuters I/B/E/S. ($1 = 1.3669 Australian dollars) (Reporting by Aditya Soni and Rushil Dutta in Bengaluru Editing by James Dalgleish)

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