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Qatar Airways records a 28% increase in net profit at $2.1 billion

According to an airline statement released on Monday, Qatar Airways reported a 28% increase in its annual net profit. It now stands at a record 7,8 billion Qatari Riyals ($2.1 billion).

In a press release from the airline, CEO Badr Mohammed Al-Meer said: "We have successfully implemented strategic partnership throughout the industry in order to allow the Group remain agile when faced with ever-changing world events - whether they are political, economic, or environmental."

Data on the airline's passenger and revenue numbers for last year was not available. On Monday morning, the airline's annual report should be released in its entirety.

Qatar Airways bought 25% of Virgin Australia, and 25% of South Africa's regional airline Airlink, in the past year to increase passenger numbers and connectivity.

Last week, the airline made a firm purchase of 160 Boeing 777X planes and 787 aircraft with GE Aerospace engines valued at $96 billion. This is the largest ever widebody order for both companies. Qatar Airways can buy up to 50 additional Boeing jetliners.

Thierry Antinori, the airline's Chief commercial officer, told reporters in March that Qatar Airways had experienced above-market growth of passenger numbers between April 2024 and January this year. This included an increase of 9% across its network, 14% in Europe, and 12% in Germany. (Reporting and editing by David Holmes; Andrew Mills)

(source: Reuters)