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Qantas Returns to Profit Aided by Joyce’s Cuts, Cheaper Oil

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Qantas Airways Ltd. posted its strongest half-year earnings in four years, as Chief Executive Officer Alan Joyce’s cost-cutting turnaround plan helps Australia’s biggest carrier rebound from a record loss.

Earnings before tax and one-time items were A$367 million ($289 million) in the six months ended Dec. 31, Qantas said in a statement Thursday. Its shares rose 5.3 percent to A$2.96 at 10:24 a.m. in Sydney.