Qatar Airways posts record annual profits of $2 billion

 Qatar Airways announced on Monday a 28 percent increase in annual net profit, reaching a record $2.15 billion, days after concluding a major deal with Boeing during US President Donald Trump's visit.

"These record-breaking results are a testament to the hard work, skill, and dedication of all divisions of the Qatar Airways Group," said Badr Mohammed Al Meer, CEO of the state-owned airline.

Qatar Airways Cargo also reported a 17 percent increase in revenue compared to the previous year, according to the company.

"We have successfully implemented multiple strategic partnerships in the aviation sector to ensure the group remains resilient in the face of ever-changing global events, whether political, economic, or environmental," Al Meer added, according to a Qatar Airways statement.

During a Gulf tour that included Saudi Arabia, Qatar, and the UAE last week, Trump praised Qatar Airways' "record" order for 160 Boeing aircraft while signing several agreements alongside Qatar's Emir Sheikh Tamim bin Hamad Al Thani.

The White House later announced that Qatar Airways would honor a $96 billion agreement to purchase up to 210 U.S.-built Boeing 787 Dreamliners and 777X aircraft powered by GE Aerospace engines.

The order includes 130 Dreamliners and 30 Boeing 777-9s, which are still subject to certification by the U.S. Federal Aviation Administration.

The order also includes options for 50 additional 787s and 777Xs, according to data from Boeing and Qatar Airways.

Last year, Qatar Airways reported net profits of $1.7 billion, a 39 percent year-on-year increase, another record.