Qatar Airways has announced a 21.7 per cent increase in net profits for the fiscal year to March 31.
Annual revenue also increased by 10.4 per cent, during a year in which the carrier added ten new destinations and expanded its fleet to 196 aircraft.
But the results cover a period prior to the recent decision by neighbouring countries Saudi Arabia, Bahrain, the UAE and Egypt to cut ties with Qatar, over alleged support for Islamist terrorist groups.
Alluding to flight alterations enforced by the blockade – which has seen the four countries close road, sea and air access to and from Qatar, the Doha-based carrier and Oneworld alliance member said that it “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”.
Announcing the annual results Qatar Airways’ group CEO 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.”
Aside from the route launches to destinations including Adelaide, Atlanta and Auckland, the airline highlighted achievements including an increased stake in British Airways’ parent company IAG, a joint business agreement with BA, an investment in the LATAM airline group, a deal to purchase up to 100 Boeing aircraft, and the unveiling of the new Q Suite.