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Australia's Qantas posts solid profit as domestic market improves
[BENGALURU] Australian airline Qantas Airways Ltd on Friday posted its second-best core annual profit ever, slightly ahead of analysts estimates, as the domestic market improved and challenging conditions in the international market abated.
Underlying pre-tax profit, Qantas's most closely watched measure, totalled A$1.4 billion (S$1.51 billion) for the year to June 30, shy of the prior year's record of A$1.53 billion.
Qantas in May said it expected to post an underlying profit before tax of A$1.35 billion to A$1.4 billion. Six analysts polled by Thomson Reuters I/B/E/S had forecast an average of A$1.38 billion.