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dubaiamman243
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Qatar Airways 2016 financial results

Sun Jun 11, 2017 8:15 pm

Qatar Airways financial results has been announed today morning, i have no access to them as QR's website is blocked in the UAE.

from their FB page, the airline recoreded a 21% increase in profits.

Can someone please share them here.
Last edited by dubaiamman243 on Sun Jun 11, 2017 8:23 pm, edited 1 time in total.
The next airline CEO :crossfingers:
 
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KarelXWB
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Re: Qatar Airways financial results

Sun Jun 11, 2017 8:19 pm

Net profit $540 million, revenue roughly $10 billion.

The results cover the period from 1 April 2016 to 31 March 2017, well before Saudi Arabia and several of its allies cut ties with Qatar and severed air links with Doha about a week ago.

"Our annual results once again reflect the success of our expansion and growth strategy," Qatar Airways chief executive Akbar Al-Baker said in a statement.

Net profit increased to $540m, a 21.7 per cent increase. Revenue was up 10.4 percent to $10.6bn.


Press release
https://www.qatarairways.com/en-bd/pres ... cent-.html
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anshabhi
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 2:06 am

Congrats to Qatar. It's probably one of the only airlines whose net profiit has increased from last year.
 
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PerfectGriffin
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 3:34 am

Provided those are their actual results, they beat EK's profits for last year.
 
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TheFlyingDisk
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 3:42 am

How is it that QR managed to profit while EK lost money? I thought the notion was that EK was the better managed of the ME3s...
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smi0006
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 4:09 am

TheFlyingDisk wrote:
How is it that QR managed to profit while EK lost money? I thought the notion was that EK was the better managed of the ME3s...


QR has always seemed to better manage capacity and yield to me. Lower J seat counts and only 380s fitted with first. Luxury that can command yield. QR also faces less operational challenges now that new DOH has opened.

Doesn't hurt that the CEO of QR is the CEO of DOH.... can't hurt aeronautical charges.
 
dcajet
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 4:10 am

TheFlyingDisk wrote:
How is it that QR managed to profit while EK lost money? I thought the notion was that EK was the better managed of the ME3s...


EK's profits fell 81% YoY but the airline is still in the black, reporting profits of $340 million US for last year.
Keep calm and wash your hands.
 
rivervisual
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 4:41 am

These are the results for the Group not just the airline. Page 11 onwards of the consolidated statement explains all that is included in the result.
 
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PerfectGriffin
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 4:53 am

rivervisual wrote:
These are the results for the Group not just the airline. Page 11 onwards of the consolidated statement explains all that is included in the result.


Then that's a different story then. EK group profit was $680 million last year.
 
Airlinerdude
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 5:36 am

Interesting results.

I was curious to see how much merit there was with claims of QR having interest free loans. Full disclaimer that QR's numbers are approximate without knowing the exact nature of the finance costs, and loan repayments. However, last year QR had QR19,397,000,000 in loans and paid out QR429,000,000 in finance costs, which calculates to around a 2.2% interest rate. For reference, Emirates states on their financials that they carry a 3% interest rate on borrowings and lease liabilities.
 
aviationaware
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 6:15 am

As long as I don't see a PCAOB compliant audit report for those numbers, they are an invention.
 
StTim
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 6:46 am

Is this before or after the government subsidy?


(Sarcasm alert!)
 
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lightsaber
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 2:34 pm

aviationaware wrote:
As long as I don't see a PCAOB compliant audit report for those numbers, they are an invention.

I have to agree. Some audit is required. What rate does QR depreciate assests? There are a half dozen airlines I'd like to see more information, EK, EY, and AI included.

Lightsaber
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usflyer msp
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 2:45 pm

That is nice. The accountants should get awards for their creativity...
 
whatThe
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Re: Qatar Airways 2016 financial results

Mon Jun 12, 2017 3:26 pm

I know that there are strong opinions on this topic for the ME3 so I will only try and highlight points that are disclosed in their financial statements.

Consolidated Financial Statements
https://www.qatarairways.com/content/da ... l_2017.pdf

Government Support
In Qatar's case you can see the state sponsorship in the cash flow statement within their Consolidated Financial Statement, specifically on page 8. It notes that in 2017, the company received QAR1,786,796,000 in cash from the issuance of new shares, or approximately $490mm.

It does not appear this was absolutely necessary from the cash flow statement. In the 2016 and 2017 fiscal years the company was basically cash neutral between operating cash flows and investing cash flows.

Note 17 on page 43 discusses the share capital of the company. It states that the government bought shares in 2016 in the amount referenced above. At the end of the fiscal period, QAR45,217,510,000 in shares had been issued, or about $12.4bln, since the inception of the company. Presumably this is all owned by the government.

Debt
Another posted alluded to this. On page 45 you can see the company's debt. They have about QAR20bln of debt outstanding, or about $5.7bln. The majority of this debt is denominated in USD. About half of the debt is secured by aircraft.

Depreciation
Someone was also curious about their depreciation schedule. The company discusses it on page 22 and notes planes are depreciated over a 12-18yr period with a 5-15% estimated residual value.

Related to this topic, Note 29 on page 48 highlights that the company leases 109 aircraft, up from 50 in the 2016 fiscal year.

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