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

The Embraer Phenom 300 is the world’s most delivered light business jet

Embraer Executive Jets delivered 53 Phenom 300 and Phenom 300E light jets in 2018, according to a report issued by the General Aviation Manufacturers Association (GAMA).

Emirates to showcase its A380 at Saudi International Airshow

Emirates will be showcasing its flagship Airbus A380 for two days at the first ever Saudi International Airshow.

Etihad Airways to increase flights to London

Etihad Airways will increase its flights from Abu Dhabi to London Heathrow, from three to up to four daily services, to meet peak demand during the month of April.

IATA releases 2018 airline safety performance results

The International Air Transport Association (IATA) released data for the 2018 safety performance of the commercial airline industry showing continuing safety improvements over the long term, but an increase in accidents compared to

Airbus certifies A400M Cargo Hold Tanks refuelling unit

Airbus has successfully completed the certification flight tests for the A400M Cargo Hold Tanks (CHT) refuelling unit, taking a new step towards the full certification of the aircraft for air-to-air refuelling operations as a tanker.

MEBAA Show Morocco bringing business aviation to North Africa

The MEBAA Show Morocco will bring business aviation to the North African region, according to announcements made at a recent local press conference by Ali Alnaqbi, Founding & Executive Chairman of the Middle East & North Africa Business

IQPC 3CACSK290150319
See us at
ACCA19_BT2141218280219IQPC 3CACBT290150319Aviation Africa BT0607280219SaudiAirshowBT0711140319Connect MEIA BT1402010519