Qantas has reported its biggest ever financial loss after taking a A$2.6bn (£1.5bn) writedown due to a company restructure that includes a re-valuing of its fleet.
Qantas, which formed an alliance with Emirates Airline last year in an effort to trim losses on international routes, posted a statutory net loss of A$2.8bn for the year to June 30, compared with a restated profit of A$2m a year ago.
Its underlying loss before tax was A$646m, compared with a restated A$186m profit.
Despite an investor push for major asset sales, Australia's national flag carrier said it had no plans to spin-off its profit-making loyalty division, which analysts have valued at up to A$2.5bn.
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