Australian carrier Qantas generated pre-tax profits of AU$367m ($290m) for the six months ending December 31, 2014, its best H1 results for four years.
The figure represent a AU$619m ($489m) improvement on the same period in 2013, when the airline posted a AU$252m ($199m) loss.
Alan Joyce, CEO of the group, hailed the airline’s transformation programme as “the decisive factor” in boosting its profitability.
He said: “Our transformation programme delivered AU$374m [$295m] in benefits in the first half of 2015. Without the impact of transformation, Qantas would not be profitable today.”
The group has confirmed that it now expects its transformation programme to generate cost benefits of AU$675m ($533m) during its 2015 financial year.