Qantas profitable again after international arm rises

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.

Read more at ABC news online.