Qantas aircraft
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Qantas' long flight back to profitability

Australia's biggest airline, Qantas Airways, posted a record annual profit and declared its first final dividend since 2009.

The carrier is reaping the benefits of a completed restructuring, despite a global travel downturn.

The flagship carrier known colloquially as the "flying kangaroo" has shed thousands of staff, cut capacity to keep ticket prices up and locked in fuel hedging contracts that let it benefit from a slump in the oil price.

Here's a quick explainer on the airline's journey to profitability.

  • 24 Aug 2016