Qatar Airways Group recently released a financial report that details the company’s success over the past fiscal year including improving year-over-year results in all business units, growing revenues by 4.3 percent and bringing operating costs down by 1.5 percent.
The company’s approximately$824 million operating profit for fiscal 2016 nearly tripled the results from fiscal 2015. This resulted in an 8.6 percent operating profit margin, which is close to six percentage points better than 2015. The company also reported approximately $9.8 billion in revenues, $440 billion in net profits and a net profit margin of 4.5 percent.
“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,” Qatar Airways Group Chief Executive Akbar Al Baker said. “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.”
Qatar Airways also announced many milestones, including the delivery of its 25th Boeing Dreamliner and 50th Boeing 777 as well as the growth of its Boeing 787 fleet to 29.