Qantas has reported an underlying profit before tax of AU$1.46bn ($0.96bn) in the first half of financial year 2026, ending December 31, up AU$71 million ($46.9m) on the same period a year prior.
Profit after tax rose AU$2 million ($1.3m) to AU$925 million ($610m) during the period.
The company received six new aircraft deliveries in the first half, with 30 more scheduled for delivery over the next 18 months.
Net capital expenditure for the year was AU$1.8bn ($1.19bn), up 27%.
The board has approved a AU$300 million ($198m) interim dividend at 19.8 cents per share, up 20%, and a share buyback of up to AU$150 million ($99m).
As of the end of the period, liquidity stood at AU$12.6bn ($8.32bn), including AU$1.8bn ($1.19bn) in cash and net debt of AU$5.6bn ($3.70bn).
Full-year capital expenditure is forecast to be between AU$4.1bn and AU$4.3bn ($2.71bn–$2.84bn).
Looking ahead, Qantas expects continued strong domestic and international travel demand, with fleet expansion enabling network growth and increased capacity.
The airline also launched its first-ever direct flights from Australia to Las Vegas on the same day as its results. The route will commence in late December 2026 and operate through March 2027, running three times per week using Boeing 787 Dreamliner aircraft.
Qantas will roll out changes to its loyalty programme, allowing members to earn credits through everyday spending and roll over unused credits, aiming to simplify the scheme and provide greater flexibility for customers.