Qantas has today reported bottom line profit of $6mm which, while better than a statutory loss of $244mm the previous year, was below analyst expectations of $56mm. Qantas Airways has warned that the operating environment in the first half remains challenging and volatile despite reporting a surprise doubling in underlying profit before tax to $192mm. The airline has said that its return back to profit was driven by the strength of its domestic business and its new alliance with Emirates. The result was also helped by a steady improvement in its international business and the growth of Jetstar in Asia. Qantas CEO Alan Joyce said the international business remained on track to break even by the FY2014-15. Despite nearly halving the losses in its international business, Qantas did not declare a dividend - it has not done so since 2009.