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Qantas Sees Return to Profit on Restructuring After Loss

Qantas Airways Ltd., Australia’s biggest carrier, jumped the most in a year as it forecast a return to profit, after posting a record A$2.84 billion ($2.7 billion) annual loss.

The group will be profitable in the six months to December as an oversupply of seats subsides and a A$2 billion cost-cutting program starts to pay off, the Sydney-based airline said in a regulatory statement today.