17 Feb 2011

Qantas first-half profit soars

3:53 pm on 17 February 2011

Australia's Qantas has posted a four-fold increase in its first-half profit as it makes a comeback from one of the worst downturns in the aviation industry.

In the six months to December, Qantas made $A241 million, up 316% on its result the same time a year earlier, the ABC reports.

Qantas chief executive Alan Joyce says the airline has emerged from the global financial crisis in a strong position and is well placed to capitalise on an upswing in the tourism market.

However, he says the result could have been better had it not been for the problem with Rolls-Royce engines that grounded the A380 fleet.

Despite the profit jump, the company said it would not reinstate its interim dividend.