Audited figures show the carrier made £424.4 million for the year to the end of March 2017, compared with £348.8 million in the previous 12 months. The 21.7% increase follows a 10.4% rise in revenue to £8.37 billion.
The airline also marked major expansion last year, increasing Available Seat Kilometres (the number of available seats multiplied by the number of miles flown) by nearly 22%.
The carrier’s group chief executive Akbar Al Baker said: “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.”
During the year, Qatar Airways launched 10 new destinations and increased its fleet to 196 aircraft. In July last year, the carrier also increased its stake in British Airways parent company International Airlines Group (IAG) from 15.24% to 20.01%.
A further strategic investment was made by the airline in December 2016, when it acquired 10% of LATAM Airline Group’s total shares.
Qatar Airways will launch a record number of 24 new destinations in the next year, including Dublin, San Francisco, Rio de Janeiro, and Santiago.
The airline announced an agreement with Boeing in October 2016, to purchase up to 100 aircraft; comprising 30 firm orders for 787-9s and 10 firm orders of 777-300ERs, with a letter of intent to purchase up to a further 60 B737 MAX 8 short-haul aircraft.
