Qantas Posts Record Profit as Fleet Revamp Axes Thirsty Jets

Qantas Airways Ltd. notched up a record profit in the first-half as new and less fuel-hungry Airbus SE aircraft increasingly replace the airline’s aging domestic fleet.

Earnings in the six months ended Dec. 31 climbed 5.1% to A$1.46 billion ($1.04 billion), Qantas said Thursday, which was slightly above analysts’ expectations. The Australian airline also announced a share buyback of as much as A$150 million.