Qatar Airways: 10.4% Increase in Annual Revenue

Qatar Airways: 10.4% Increase in Annual Revenue

Qatar Airways has recorded a 10.4% increase in annual revenue and a 21.7% growth in net profit, according to the financial report for the period April 1, 2016 – March 31, 2017.
During the 2017 financial year, Qatar Airways launched 10 new destinations, announced industry-revolutionary product developments available on board, and expanded its modern fleet to 196 aircraft.
In July 2016, the airline increased its stake in International Airlines Group (IAG) from 15.24% to 20.01%. Another strategic investment was made in December 2016, when the company acquired a 10% stake in the total shares of the LATAM Airline Group.
Throughout the 2017 financial year, the company continued to develop its global network, adding 10 new destinations: Adelaide, Australia; Atlanta, United States; Auckland, New Zealand; Helsinki, Finland; Krabi, Thailand; Marrakech, Morocco; Pisa, Italy; Mahe, Seychelles; Windhoek, Namibia; Yerevan, Armenia.
Qatar Airways also announced that it will launch flights to 24 destinations next year, including Dublin, San Francisco, Rio de Janeiro, and Santiago (Chile).
At the same time, the company announced the signing of an agreement with Boeing in October 2016 to purchase up to 100 aircraft, including 30 Boeing 787-9 aircraft, 10 Boeing 777-300ER aircraft, and 60 B737 MAX 8s. These aircraft are in addition to the existing 196 aircraft, which include 7 Airbus A380s, 30 Boeing 787 Dreamliners, and 16 Airbus A350s.

Source: Wall-Street

Frequently Asked Questions

What were Qatar Airways’ financial results for 2017?

Qatar Airways reported a 10.4% increase in annual revenue and a 21.7% rise in net profit for the 2016-2017 financial year.

Which strategic investments did Qatar Airways make?

The airline increased its stake in IAG to 20.01% and acquired a 10% stake in the LATAM Airline Group.

How many aircraft did Qatar Airways order from Boeing?

In October 2016, Qatar Airways signed an agreement to purchase up to 100 Boeing aircraft, including 787-9, 777-300ER, and B737 MAX 8 models.