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Australia's national carrier Qantas has posted record annual profits of A$1.42bn ($1.1bn, £820m), nearly doubling last year's result.

The airline will also pay a final dividend to shareholders for the first time since 2009.

Qantas has been though major restructuring after posting .

To achieve the turnaround, the carrier has cut capacity, and benefited from a slump in oil prices.

"Transformation has made us a more agile business, created value for our shareholders and given us a platform to invest for the future," Qantas chief executive Alan Joyce .

The record results come despite much of aviation business seeing a in the wake of a global economic slowdown.

The profit before tax of A$1.42bn for the year ending 30 June was nearly double the previous year's A$789m, but still came short of analysts' forecasts.

Qantas shares rose by more than 4% on the news.

The airline said each of its main operating divisions - its domestic, international and budget carrier subsidiaries - saw record underlying earnings for the past year.

Qantas announced a dividend of 7 cents per share.

The company also said it will give staff a A$3,000 "record result bonus".