Qatar Airways Group reported a 328% jump in net profits at its airline operations. The carrier posted a net profit of US$439m for the financial year to March 31, up from the $103m recorded for the previous year. It is the first time Qatar Airways Group has released its financial results, which have come under scrutiny after US airlines and their unions accused it of competing unfairly through state subsidies. Qatar Airways has denied the allegations and said US airlines are losing market share due to poor service. Monday, the airline said that at a group level it reduced its costs by 1.5% and increased its cash and bank balance by 54%, despite a growth in operations and an adverse movement in foreign currency exchange rates. Qatar Airways plans to launch 17 new routes in the current financial year. <br/>