Subscribe Free
in Business & Finance

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.

 

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Supersonic boost as Aerion links with Lockheed Martin

Two leaders in supersonic technology, Aerion and Lockheed Martin have announced an MOU to explore the feasibility of a joint development of the world's first supersonic business jet, the Aerion AS2. Over the next 12 months, the

NAS launches new Pearl Lounges at Marrakech Menara Airport

National Aviation Services has launched its Pearl Lounges at the Marrakech-Menara Airport in Morocco reinforcing capacities at the newly renovated airport.

CEO of Airbus to step down

Airbus has announced that its CEO Tom Enders will be leaving the company in April 2019, reports aerotime.

Flydubai touches down at Kilimanjaro International Airport

Flydubai's inaugural flight touched down today at Kilimanjaro International Airport (JRO), increasing capacity to Tanzania and further expanding its network in Africa to twelve destinations.

Emirates takes Los Angeles Dodgers players to Dubai

Emirates, the Official Airline of the Los Angeles Dodgers, has brought all-star players Justin Turner (third baseman) and Chase Utley (second baseman) to Dubai to help further develop the game of baseball in the region.

Saab starts development and production in the UAE

Defence and security company Saab grows its presence in the United Arab Emirates (UAE) by establishing development and production in Abu Dhabi.

TAA SK 12MTHS16
See us at
MEBAA BT2018Aviation Africa BT18418AIME BT1204240118Saudi Future Airports BT150318ArabianTravelMkBT250418BIAS BT271017161118Istanbul Airshow BT22018