The airline reported a net profit of 1,621 million Saudi riyals ($442 million) in 2015-16, or up by 335 percent compared to its last year’s profit of 337 million riyals ($102 million).
Advertisement
Qatar Airways continues to lead the industry in all aspects of the business, from our strong financial performance to our award-winning on board product.
Qatar Airways Ltd. full-year profit more than quadrupled as the carrier expanded its wide-body jet fleet, added routes and benefited from a drop in fuel costs along with oil prices.
Qatar Airways Group Chief Executive Akbar Al-Baker said in a statement it was the 19-year-old airline’s best fiscal year to date. It also started operating the Airbus A350XWB, the world’s most technologically advanced aircraft.
“Now, as the largest dedicated G650 operator in the world, we are able to respond to this need”. New aircrafts began daily flights to Guangzhou, China, Geneva, Switzerland and Warsaw, Poland from Doha’s Hamad International Airport.
In the fiscal year of 2016, the airline from Qatar registered a net profit of Dollars 439.4 million. Qatar Airways’s 2016 fiscal year ended in March 31. Closer to home, the Doha-Dubai Shuttle was introduced, the first-of-its-kind flying between the two cities, a customised service responsive to the specific needs of this heavily trafficked corridor. It also added to its cargo route, now serving 54 destinations, including Dallas, Budapest, Prague and NY.
Advertisement
“As a member of oneworld, we see [the LATAM transaction] as an extension of Qatar Airways’ global network alongside our successful investment in IAG”, Al Baker said. New African destinations to be added this year include Lusaka, the capital of Zambia, and Libreville in Gabon.
