Qantas has reported a loss of more than $1.7 billion as the airline bleeds revenue because of the COVID-19 pandemic.

For the last financial year Qantas has suffered a $12 billion revenue loss, taking total COVID-19 losses to $16 billion.

That’s led a $1.83 billion dollars loss, $2.35 billion when redundancies and aircraft write downs are taken into account.

The domestic arm bounced back to 92 per cent capacity in May before the impact of the current lockdowns was felt.

CEO Alan Joyce said things remain tough, and insists the airline is in a far better position to manage the downturn than it was this time last year.

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