The Brisbane travel company reported a $194 million bottom line for the December half, an improvement on the $230 million for the corresponding period last year.

Revenue hit $315 million, almost double last year’s result and its corporate division is targeting profit in March-April. Global leisure is expected to return to profit later in 2022 when international travel returns in “a more meaningful way”.

It came as Qantas announced an underlying loss before tax of $1.28 billion and a statutory pre-tax loss of $622 million, its fourth in a row. It has now reported losses of more than $6 billion since Covid-19 hit.

But Flight Centre co-founder and managing director Graham Turner said the company was still in unchartered waters.

“Confidence is the recovery is building, with the near term rebound in demand – which is already underway – looking likely to exceed the post-Delta rebound in November.

“The outlook now for travel is considerably brighter although the recent unrest in Russia and the Ukraine may impact the pace of recovery if it escalates significantly.

“We remain comfortable with our pre-Omicron return to profit timetables and will continue to target a return to monthly profitability in corporate and leisure during 2022.”

Turner said he could not give any profit guidance for the current year because of the possibility of a new Covid variant, the economic responses and government restrictions.

“In many ways we are entering unchartered waters after two years of unprecedented restrictions,” Turner said.

He cited the loss of 10 million short-term resident departures in 2021.

“Undoubtedly, these grounded travellers will be keen to make up for lost time, but it is impossible to predict at this stage how quickly that pent-up demand will return, although very positive signs are being seen right now,” he said.

He said the company’s South African business had returned to profit in January after restrictions were eased in that country.

In its leisure division, total transaction value peaked in November at 30 per cent of pre-Covid levels and more than doubled between September and November.

Qantas chief executive Alan Joyce said the airline had seen international bookings strengthen in recent weeks and one week this month was its best since Covid hit.

More than 90 per cent of its passenger flights in the half year were cash positive and an extra $700 million in revenue was added compared with the first half the previous year.

Qantas has also announced a distribution of shares to its staff. Non-executive employees would receive rights to 1000 shares each. The rights won’t convert to shares until August next year and would be conditional on the employee remaining with the airline. The company must also deliver on its recovery program before the shares are issued.