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Qatar Airways releases annual report for the fiscal year 2017

Posted 12 June 2017 · Add Comment

Qatar Airways has released its annual report for the fiscal year 2017 (April 1st 2016 to March 31st 2017) 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.

This is an outstanding result for the award-winning airline, which has experienced a busy year of expansion and investment, as well as celebrating its 20th anniversary in the global aviation industry. Qatar Airways’ Available Seat Kilometres (ASK) increased by 21.9 per cent in the fiscal year 2017, to 185,208 million.

Qatar Airways Group 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 fiscal year 2017, Qatar Airways has made significant investments and partnerships; launched 10 new destinations; announced industry-changing on-board product developments and expanded 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. 

During the fiscal year 2017, the airline added 10 new destinations: Adelaide, Australia; Atlanta, United States; Auckland, New Zealand; Helsinki, Finland; Krabi, Thailand; Marrakech, Morocco; Pisa, Italy; Mahé, Seychelles; Windhoek, Namibia; and Yerevan, Armenia.

The airline has also announced that it will launch a record number of 24 new destinations in the next year, including exciting cities such as Dublin, Republic of Ireland; San Francisco, United States; Rio de Janeiro, Brazil; and Santiago, Chile.

 

 

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