Subscribe Free
in Air Transport / Business & Finance

Qatar Airways reports 2017 fiscal year success

Posted 11 June 2017 · Add Comment

Under pressure Qatar Airways today released its 2016-2017 annual report revealing a 21.7 per cent year-on-year net profit increase. The results also show an annual revenue increase of 10.4 per cent.


Qatar Airways’ available seat kilometres (ASK) increased by 21.9 per cent in the fiscal year to 185,208 million. 
Chief executive, Akbar Al Baker, said: “Our annual results once again reflect the success of our expansion and growth strategy that has seen the Qatar Airways Group grow from a small regional airline into an aviation powerhouse over the last two decades.
“As we celebrate our 20th anniversary in the industry, I am proud to share our annual results with the world so that they can see how far we have come as an airline group and how our dedicated team of more than 43,000 employees have worked together to make Qatar Airways the huge success it is today.”
During the year which ended in April, Qatar made significant investments and partnerships; launched 10 new destinations; and a number of innovative on-board product developments while its modern fleet to 196 aircraft.
In July 2016, the airline announced an increase in its stake in International Airlines Group (IAG) from 15.24 per cent to 20.01 per cent, strengthening its position as a shareholder in one of world’s biggest airline groups. A further strategic investment was made by the airline in December 2016, when it acquired 10 per cent of LATAM Airline Group’s total shares.
Other key partnerships secured throughout the same period include a joint business agreement with IAG subsidiary, British Airways, with revenue sharing on the London Heathrow-Doha route, as well as new codeshare partnerships with airlines such as Finnair, Iberia, Sri Lankan, Vueling and Air Botswana.
The airline has announced that it will launch a record number of 24 new destinations in the next year, including exciting cities such as Dublin; San Francisco;
Rio de Janeiro; and Santiago.
Referring to the severance of diplomatic ties with Saudi Arabia, UAE, Bahrain and Egypt, the report stated that “Qatar Airways continues to operate to the rest of its network as per its published schedules with day-to-day adjustments for operational and commercial efficiencies, which is standard airline practice.”
 

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Gulf Air’s on time punctuality garners top ranking in 2017

Gulf Air has been independently ranked by UK aviation analysts OAG the third most punctual airline in 2017, amongst Middle East and African airlines, with an average on-time performance (OTP) of 80.22%.

Aircraft Interiors Middle East and MRO Middle East opens today

The Aircraft Interiors Middle East and MRO Middle East events opened today in Dubai.

Emirates SkyCargo offers enhanced protection for pharmaceutical cargo

Emirates SkyCargo, has stepped up its commitment to securely transport temperature sensitive pharmaceutical shipments with the introduction of pharma corridors offering additional protection across selected stations in its

Boeing's 787-10 Dreamliner cleared for commercial service by Federal Aviation Administration

Boeing has announced the 787-10 Dreamliner received an amended type certificate (ATC) from the U.S. Federal Aviation Administration (FAA), clearing the aircraft for commercial service.

Dubai Air Navigation Services and SERCO Middle East sign contract

At its head quarter’s in Dubai International Airport (DXB), Dubai Air Navigation Services (dans) have signed a supplementary agreement with SERCO Middle East.

Airbus throws spotlight on Tactilon Dabat to develop apps for local security agencies

Airbus will throw the spotlight on the Tactilon Dabat, the world's first integrated smartphone and full TETRA radio--all rolled into one, during their first time participation at the 20th edition of Intersec, the world’s leading trade

Aviation Africa SK18418
See us at
BIAS BT271017161118MEBAA BT2018Istanbul Airshow BT22018Abu Dhabi AirExpo BT2018Saudi Future Airports BT150318AIME BT1204240118Global Aerospace BT2018Aviation Africa BT18418ArabianTravelMkBT250418