Qantas posts $1.86b pre-tax annual loss

"These figures are staggering and getting through to the other side has obviously been tough," CEO Alan Joyce said on Thursday.

But revenue for the year jumped 53.5 per cent to $9.11 billion following a revival in global air travel after COVID-19 restrictions eased.

Qantas said flying levels for the year averaged 33 per cent of pre-pandemic levels after the pandemic significantly disrupted air travel, but finished the financial year at 68 per cent of pre-pandemic levels.

The carrier will not pay a dividend for the year but did announce an on-market share buy-back of up to $400 million.