Of the $500 million capital return, $134 million will be used to pay for its seven-cents-a-share final dividend, with the remainder to go to an on-market share buyback. After a hiatus of seven years, the airline will pay a dividend of 7 cents per share.

Underlying profit came in at $1.53 billion, in line with expectations, compared with $975 million in the previous year. "It means Qantas can resume dividend payments, reward 25,000 EBA-covered employees with a one-off cash bonus, and continue investment for customers, including extending wi-fi to Qantas' regional and worldwide fleets and finalising the network and customer experience for the Qantas Dreamliner", directors said in this morning's statement to the ASX.

It is a dramatic improvement in fortunes for Mr Joyce.

The statutory profit before tax was $1.42 billion, also a record and an 80% increase on the year before.

"We also continue to benefit from lower global fuel prices with a gain of $664 million secured by the Group's effective hedging position".

Frank Ocean's 'Blonde' and 'Endless' Prove Worth the Wait
This LP is titled " Blonde " (stylized as " blond " on the cover) and not " Boys Don't Cry " as it was previously announced. He's a shot of energy on the piano-driven "Solo", but doesn't upset the sonic mood that Ocean sets throughout Blonde .

Qantas Chief executive Alan Joyce delivers a record profit.

Its 2017 outlook is likewise optimistic, as Qantas plans for 2-3 percent growth in the first half of the financial year. It is also in the final stages of considering options for extending wi-fi on regional and worldwide flights and is talking to Cricket Australia about live-streaming cricket matches this summer on aircraft involved in the wi-fi trial.

"A flight from Sydney to Perth should be enough time to catch an entire match of 20/20, which is fitting when you're flying on the Spirit of Australia", Joyce says.

Qantas's smaller domestic rival Virgin Australia Ltd (VAH.AX) said last month its full-year net loss more doubled, hurt by one-off restructuring costs.