- FY pre-tax profit A$1.42 bln vs A$1.6 bln analysts
- Company gives first final dividend since 2008, starts buyback
- Company gives 25,000 staff a "record result" bonus
- Expects to raise capacity, reversing earlier cut
(Adds CEO quote, dividend, guidance, industry context)
SYDNEY, Aug 24 (Reuters) - Australia's biggest airline Qantas Airways Ltd (QAN) posted a record annual profit and declared its first final dividend in eight years on Wednesday, reaping the benefits of a largely completed restructuring despite a global travel downturn.
The flagship carrier known colloquially as the "flying kangaroo" has shed thousands of staff, cut capacity to keep ticket prices up and locked in fuel hedging contracts that let it benefit from a slump in the oil price.
"Transformation has made us a more agile business, created value for our shareholders and given us a platform to invest for the future," said Qantas Chief Executive Officer Alan Joyce in a statement.
Pre-tax profit, its most closely watched measure, totaled A$1.42 billion ($1.08 billion) for the year to June 30, almost double the previous year's A$789 million result but still short of analysts' forecasts of about A$1.6 billion.
Airlines, booking agencies and other travel-related sectors around the world have been hammered by intense competition and uncertainty over geopolitical issues like Britain's vote to leave the European Union and the U.S. presidential election.
In Australia, an unusually long general election contributed to a slowdown in business and government domestic travel. Qantas's smaller domestic rival Virgin Australia Ltd (VAH) said last month its full-year net loss more doubled, hurt by one-off restructuring costs.
On Wednesday, Qantas said each of its main operating divisions - its domestic, international and discount carrier units, and its frequent flyer program - posted record underlying earnings.
The company declared a final dividend of 7 cents per share, its first final dividend since 2008, and said it would buy back up to A$366 million of shares, a measure to prop up the shareprice. It also said it will give up to 25,000 staff a A$3,000 "record result bonus".
CEO Joyce declined to give profit guidance, but said the company expects to raise seating capacity by up to three percent in the six months to the end of calendar 2016. In April, the company said it was cutting capacity due to sluggish demand.
($1 = 1.3137 Australian dollars)
