Qatar Airways Group reports highest...

The airline announced a net profit of US$1.54bn during the past fiscal year

Qatar Airways Group has recorded its highest net profit in its 25-year history.

The organisation’s overall revenue increased to QAR52.3bn (US$14.4bn), up 78% compared to last year and 2% higher than FY 2019/20.

Passenger revenue increased by 210% over the last year, due to the growth of the Qatar Airways network, increase in market share and higher unit revenue.

Qatar Airways carried 18.5 million passengers, an increase of 218% over last year and its network grew to more than 140 destinations during the past year with new routes including Abidjan, Côte d’Ivoire; Lusaka, Zambia; Harare, Zimbabwe; Almaty, Kazakhstan, and Kano and Port Harcourt, Nigeria. In addition, flights resumed to key markets across Europe, Africa, the Middle East and Asia.

Commenting on the Group’s performance, Minister of State for Energy and Qatar Airways group chairman Saad Bin Sharida Al-Kaabi said: “Qatar Airways Group has demonstrated a robust role in the aviation industry, and these financial results are a clear indication of the Group’s strong performance.

“Against challenges during the previous period, I’m delighted by the achievements that have been accomplished this year and by the way the group has swiftly responded to these challenges.”

Qatar Airways group chief executive Akbar Al Baker added: “This year Qatar Airways Group celebrates a quarter of a century of history since its relaunch, whilst maintaining strong performance and growing profitability.

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“In 2021, we grew significantly to become the world’s largest global long-haul carrier in 2021 by RPKs. I’m extremely proud of the decisions we have made to embrace efficiency and achieve strong cost control across several operational departments while engaging in environmental and sustainable initiatives. This has positioned us at the forefront in the field of sustainability, including environmental protection and social commitment.”

Last month, Qatar Airways announced a further increase in flights with the airline aiming to operate three daily flights between Abu Dhabi and Doha starting from 10 July 2022.

For more information, visit www.qatarairways.com