Qatar Airways' profit up 22% on long-haul routes, expanded fleet

Dubai

QATAR Airways, whose state owner has been blockaded by neighbouring Gulf countries, posted an increase in annual profit as it expanded its wide-body jet fleet to send more long-haul travellers through Doha, added destinations and bought stakes in key partner airlines.

Net income for the year ended March 31 rose 22 per cent to 1.97 billion riyals (S$746 million), the Persian Gulf's second-largest carrier said on Sunday in a statement. Revenue rose 10 per cent to 38.9 billion riyals. The state-owned carrier added 10 destinations and carried 32 million passengers, up from 26.6 million a year earlier. The airline expects to get its first Airbus SE A350-1000 in 2017 and add 29 A350-900s and 37 A350-1000s over the next five years.