Qatar Airways Cargo recorded a 13.5% year-on-year growth in revenue from April 1, 2016 to March 31, 2017, according to the annual report for fiscal 2017 released by the Qatar Airways Group.
Revenue for the 12-month period was approximately QAR6.4 billion (US$1.7 billion). Qatar Airways Cargo carried 1.15 million tonnes of freight during this period, a year-on-year increase of almost 20%.
Overall, the Qatar Airways Group made a net profit of approximately QAR1.97 billion (US$540 million), 21.7% more than fiscal 2016.
“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,” said Akbar Al Baker, group chief executive. “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.”
From April 1, 2016 to March 31, 2017, the airline added 10 passenger destinations and six freighter destinations to its network.
During fiscal 2017, Qatar Airways Cargo took delivery of four Boeing 777F and currently operates a freighter fleet consisting of eight Airbus A330-200Fs and 12 777Fs. Another 777F will join the fleet during fiscal 2018, according to the carrier.
