Qatar Airways has recently 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, His Excellency Mr. 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 early June 2017, four specific countries namely the Kingdom of Saudi Arabia, the Kingdom of Bahrain, United Arab Emirates and the Arab Republic of Egypt took steps to sever diplomatic ties with the State of Qatar, and also closed transport connectivity by road, sea and air to these countries from the State of Qatar. 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.