Qatar Today - - AFFAIRS > LOCAL -

The na­tional car­rier made its an­nual fi­nan­cial per­for­mance pub­lic for the first time, af­ter promis­ing to do so for many years.

Qatar Air­ways made a net profit of QR1.6 bil­lion ($439 mil­lion) dur­ing its fis­cal year end­ing March 31, 2016, more than four times higher than its 2014-15 profit of QR374 mil­lion ($103 mil­lion). This has largely been due to fall­ing oil prices, Qatar Air­ways said. Prior to this, the air­liner an­nounced the fi­nal­iz­ing of plans with Alis­arda to take an own­er­ship stake in Italy’s sec­ond largest air­line, Merid­i­ana. In a state­ment, Qatar Air­ways said it will buy 49% of the car­rier’s shares by early Oc­to­ber. CEO Ak­bar Al Baker said, “This agree­ment sets the path to progress our work to­wards a strong res­o­lu­tion that ben­e­fits both the staff and pas­sen­gers who travel with Merid­i­ana.”

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