Australia's Qantas forecasts return to first-half profit as conditions improve

SYDNEY (Reuters) - Qantas Airways Ltd said on Thursday it expected to post a first-half underlying profit before tax of between A$1.2 billion ($753.12 million) and A$1.3 billion as conditions improved after posting a string of losses during the pandemic.

The airline added it would improve its wages offer to staff at a cost of A$40 million a year.

Qantas has faced industrial action from some unions over its previous policy of a two-year wage freeze followed by two years of 2% rises amid high inflation in Australia. It will now offer rises of 3% following the two-year wage freeze.

($1 = 1.5934 Australian dollars)

(Reporting by Jamie Freed, editing by Deepa Babington)