Qantas (QA.ASX) released its FY16 earnings and underlying profit before tax came in at $1.5b up 50%+ on the same time last year. Revenue of $16b was up 2%.
QAN announced a $500m capital return and $0.07 per share in fully franked dividends.
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We’re on the short side of this trade from the $3.45 level, looking for a pullback to $3.10.
