Qatar Airways reached an operating profit of 8.6% in 2016

Qatar Airways Group announced an operating profit of 3 billion QAR for the fiscal year of 2016 - an increase of almost three times for the profit which recorded a 1.1 billion QAR in the fiscal year of 2015. The company reported a net profit of 1.6 Billion QAR, resulting in a net profit margin of 4.5%. The net profit for the fiscal 2015 was 1.1%, at 374 Million QAR.

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."

For the fiscal year that ended on 31 March 2016, despite a significant increase in operations and the unfavorable evolution of the foreign exchange market, the Group Qatar Airways has reduced its expenses by 1.5% and increased its cash balance and the bank balance, from 5.5 billion QAR to 12 billion QAR. During the fiscal year 2016, Qatar Airways has added 13 new destinations and expanded its global network to over 150 destinations on six continents. The company was also the first one to operate an Airbus A350XWB aircraft with the most advanced technology in the world and is was also the first airline to use this type of aircraft for commercial flights to the United States. Currently, the A350 covers three continents: North America, Europe and Asia.

More, Qatar Executive, the private jet division of the Qatar Airways Group, became the launch customer of the Gulfstream G650ER, the world’s largest and fastest aircraft of its size. Qatar Executive now has two G650ER aircraft of the total order for 30 Gulfstream family aircraft.