Qatar Airways announces profits

DOHA: Qatar Airways Group announced a 3 billion QAR operating profit for fiscal year 2016 - nearly three times greater than fiscal 2015 profit of 1.1 billion QAR, resulting in an 8.6 percent operating profit margin, an improvement of nearly six percentage points from the prior year, from 35.6 billion QAR in revenues, a statement said on Monday.

The company reported a net profit of 1.6 billion QAR, resulting in a net profit margin of 4.5 percent. Net profit for the fiscal year 2015 was 1.1 percent, at 374 million QAR, it said.

Qatar Airways growth rate (CAGR) in ASK term since the re-launch in 1997 to March 31 is 28 percent.

Qatar Airways Group Chief Executive Akbar Al Baker, said: “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.”