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Qatar Airways annual profit rises 39% to $1.67 billion

Broadcast United News Desk
Qatar Airways annual profit rises 39% to .67 billion

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Qatar Airways on Tuesday reported a 39% rise in annual net profit to a record 6.1 billion Qatari riyals ($1.67 billion).

The state-owned airline said revenue for the year ended March 31 rose 6 percent to 81 billion riyals.

The flight carried more than 40 million passengers, with a load factor of 83%.

“Our continued focus on profitability, efficiency and customer experience, built on our strategic plans for network growth and fleet expansion, has resulted in the highest revenues and profit margins in the airline’s history,” Chief Executive Badr Mohammed Al-Meer said in a statement from the airline.

Air travel demand has rebounded since the outbreak, but airlines have been constrained by supply chain disruptions and Boeing Co’s (BA.N) safety crisis as planemakers struggle to return to previous production levels.

In May, Almir said planemakers such as Airbus (AIR.PA) and Boeing needed to put more pressure on suppliers to reduce delivery delays.

The airline announced last month that it was in talks with two aircraft manufacturers for a large wide-body aircraft order.

The airline is also in talks to buy up to 20 per cent of Bain Capital’s Virgin Australia, it was reported last week.

($1 = 3.6445 Qatari Riyals)

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