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Investing.com -- Qatar Airways announced a 28% increase in its annual net profit, reaching a record 7.8 billion Qatari riyals ($2.1 billion), according to a preliminary statement released by the airline on Monday.
CEO Badr Mohammed Al-Meer credited strategic partnerships throughout the industry for the Group’s ability to remain flexible in response to changing global events, whether they are political, economic, or environmental.
According to the airline’s Chief Commercial Officer, Thierry Antinori, Qatar Airways experienced an above-market growth in passenger numbers from April 2024 until January of this year. The growth rate was reported at 9% across its entire network, with a 14% increase in Europe and a 12% increase in Germany.
The specifics of the airline’s revenue and passenger data from the last year were not disclosed, however, the complete annual report was expected to be published on Monday.
In an effort to increase passenger numbers and connectivity, Qatar Airways purchased a 25% stake in Virgin Australia and a 25% stake in South Africa’s regional carrier, Airlink, over the past year.
The airline also confirmed a substantial order last week for 160 Boeing (NYSE:BA) 777X and 787 planes equipped with GE Aerospace engines, a deal worth $96 billion. This represents the largest widebody deal ever made between the companies. Qatar Airways also holds the option to purchase an additional 50 Boeing jetliners.
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