News

Qatar Airways profit increases fourfold

11 de julho de 2016

In the fiscal year of 2016, the airline from Qatar registered a net profit of USD 439.4 million. In 2015, net profit was USD 102.71 million.

São Paulo – Qatar Airways Group announced a net profit of QAR 1.6 billion (USD 439.4 million) during the fiscal year of 2016. The amount is four times greater than the one registered in the fiscal year of 2015, when the profit was QAR 374 million (USD 102.71 million). The information was released in a statement by the airline this Monday (11).

“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. Our fiscal 2016 year was the best yet for Qatar Airways Group, and our results reflect the discipline and dedication of the more than 39,369 men and women who proudly represent our airline and its associated brands”, said the company’s CEO Akbar Al Baker, according to the statement. Qatar Airways’s 2016 fiscal year ended in March 31.

In the fiscal year 2016, Qatar Airways Group reduced expenses in 1.5% and increased its cash and bank balance from QAR 5.5 billion (USD 1.51 billion) to QAR 12 billion (USD 3.29 billion), despite the significant growth in operations and an adverse movement in foreign currency exchange.

In this period the company added 13 new destinations and increased its network to more than 150 destinations. In addition to this, the company created a Doha-Dubai shuttle service. It also started operating the Airbus A350XWB, the world’s most technologically advanced aircraft.

In October 2015, Qatar Airways Group became the world’s third largest cargo operator. It also added to its cargo route, now serving 54 destinations, including Dallas, Budapest, Prague and New York. For the fiscal year of 2016/2017, Qatar Airways plans to add 17 new passenger destinations.

*Translated by Sérgio Kakitani