Australia's Qantas announces US$262 million profit

Australian flag carrier Qantas Airways on Wednesday posted a full-year net profit of US$262 million, with improvements to earnings across all segments. The results compared with a net profit of US$117 million dollars in the previous corresponding period. "The result was achieved despite the significant operational and financial challenges of the distruptions to the A380 fleet, weather events and natural disasters during the year," Qantas said in a statement. "These events impacted scheduling and disrupted thousands of flights between November 2010 and June 2011. The total financial impact of weather events and natural disasters on the Qantas segment was $136 million.