Doha – Mubasher: Qatar Airways on Monday announced its financial statements for fiscal year 2017, showing a net profits increase of 21.7% year-on-year.
Qatar Airways achieved profits of QAR 1.97 billion ($537.8 million) in FY17, compared to QAR 1.62 billion ($442.29 million) in the year-ago-period.
Annual revenues grew 10.4%, while the company’s available seat kilometres (ASK) rose 21.9% to 185.208 million in FY17.
“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,” Qatar Airways Group’s CEO Akbar Al Baker said.
During FY17, Qatar Airways has launched ten new destinations, announced industry-changing on-board product developments, and expanded its modern fleet to 196 aircrafts.
The airline has also announced that it will launch 24 new destinations in the next year.
Last week Saudi Arabia, Bahrain, Egypt, and the UAE broke their diplomatic ties with Qatar and also closed land, sea, and air transport access.
Qatar Airways’ current fiscal year started on 1 April 2016 and ended on 31 March 2017.
