The future savings helped propel Qantas shares more than 5 per cent higher to $1.23 by 11:29am (AEST). The delivery of 15 787s to its budget offshoot Jetstar will continue as planned, with the first aircraft to arrive in the second half of 2012. "Qantas has been through an exceptional period in its history over the past 12 months," chief executive Alan Joyce said this morning. "Over the course of the year we made significant progress in advancing the group's strategy - building on our strong domestic business and frequent flyer program and growing Jetstar across Asia. "Qantas international's turnaround plan is on track and set for improvement in 2012/13." Qantas says the result was negatively affected by record high fuel costs of $4.3 billion (up $645 million on the previous year), and industrial action which culminated in the airline grounding its fleet, costing a total of $194 million. There were further one-off costs of $398 million associated with restructuring the airline's international network.