Australian flag carrier Qantas reported an annual gross income for FY2015 of A$975 million ($711 million), a dramatic A$1.6 billion reversal from its A$646 million loss in the year-ago period. The airline said the results were due to good progress with its Transformation Program, which saw A$894 million in savings during the year through cost cutting and redundancies, and saw Qantas pay down more than A$1 billion in debt. “We reshaped our business for a strong, sustainable future ...

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