Despite this, Qantas's share price was 4.2 percent higher at Aus$1.22 in early afternoon trade, with investors pleased with the decision to cancel an order for 35 Boeing 787-9 Dreamliner aircraft. "Qantas has been through an exceptional period in its history over the past 12 months," said Joyce, who will forgo any bonus or pay rise. "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 programme and growing Jetstar across Asia. "Qantas' international's turnaround plan is on track and set for improvement in 2012/13." The airline confirmed a Aus$450m loss at its international arm and said the result was also negatively impacted by record high fuel costs of Aus$4.3 billion, up Aus$645 million on the previous year. The industrial dispute that brought the airline to a standstill cost Aus$194 million.