Australian airline Qantas has reported a record annual loss of A$2.8 billion (£1.6 billion) for the year to June.

This was partly due to a A$2.6 billion write-down on its international fleet, although weak domestic demand, poor consumer spending and rising fuel costs also contributed to the poor results.

Qantas was hit by a number of one-off costs, it announced, including restructuring and redundancies (A$428 million) and non-cash costs relating to early aircraft retirements (A$394 million).

Nevertheless, the airline expects to return to profit in 2015, with the Qantas Transformation programme laying the groundwork for sustainable growth in earnings.

"With our accelerated Qantas Transformation programme we are already emerging as a leaner, more focused and more sustainable Qantas Group," said chief executive officer Alan Joyce.

He added that the firm's cash balance and liquidity position is strong and the completion of a structural review means it can move forward with certainty.