Qantas Group has posted its first full-year profit since the COVID-19 pandemic, pledging to invest more money in providing a better experience for customers.

In a release to shareholders the airline reported a statutory profit after tax of $1.74 billion and an underlying profit before tax of $2.47 billion.

The last time Qantas Group posted a full-year profit was in the 2018-2019 financial year, after which it accumulated around $7 billion in losses due to challenges faced by COVID-19 lockdowns.

Outgoing Qantas CEO Alan Joyce husband Shane Lloyd selling Mosman trophy home Domain
Outgoing Qantas CEO Alan Joyce said the financial position would allow Qantas to buy more aircraft, support staff, and improve customer experience. (AAP)

In documents tendered to the market, Qantas said customer satisfaction had “improved”.

“Operational performance improved considerably during the year after a challenging ramp up, with Qantas achieving the best on-time performance of the major domestic airlines for 11 months out of 12 and Jetstar returning to pre-COVID levels,” the business said.

“Customer satisfaction, while not back to pre-COVID levels, has also improved in line with operational performance.”

The airline said that customer satisfaction was not at pre-COVID levels, but was improving. (Nine)

Outgoing CEO Alan Joyce said some of the profits will be funneled back to staff.

“It’s because we’re in a strong financial position that we’re able to invest in new aircraft, new destinations and new training facilities – all things that will make us better in the future,” he said.

“Our people have done a superb job under very difficult circumstances. Today’s result means more than 21,000 non-executive staff will receive up to $6,000 worth of Qantas shares as a thank you for their part in our recovery, plus another $500 staff travel credit.

“This is in addition to a $5,000 cash payment to eligible employees as new enterprise agreements are finalised.”

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