"...except for determining the percentage of revenue that profit constitutes..."
"...as long as sufficient profit (as a percentage of revenue) is earned..."
A little simplistic or myopic perhaps? The relevance of profit is as a return on capital equity (ROE), one of the first owners/shareholder consideration.
Devaluing assets by $2.6 billion erodes shareholder's market equity whilst inflating return on investment in the longer term. ROE can also be high if a company is heavily leveraged.
QAN ROI is 30.68%, a result of being heavily leveraged. Qantas debt to equity in December 2016 was 1.387, versus 0.1027 twenty years previously in December 1996.