Qatar Airways Group reports highest-ever annual net profit – Business Traveller

Qatar Airways Group has reported a record net profit of US$1.54 billion during the fiscal year 2021-22, 200 per cent more than its highest reported profit over the last 25 years that it has been operational.

Overall revenue increased to US$14.4 billion, up 78 per cent compared to last year and a 2 per cent higher than the full financial year pre-Covid which was 2019-20.

Passenger revenue increased by 210 per cent over the last year for the second financial year in a row.

Qatar Airways carried 18.5 million passengers, an increase of 218 per cent over last year.

Revenue at Qatar Airways Cargo meanwhile remained grew 25 per cent over last year with the growth in cargo capacity (available tonne kilometres) of 25 per cent annually.

The group generated an EBITDA margin of 34 per cent at US$4.9 billion, a 53 per cent increase over the previous year’s EBITDA of US$3.2 billion.

The destination network of the national carrier of Qatar grew to more than 140 destinations in 2021-22, opening new routes including Abidjan, Côte d’Ivoire; Lusaka, Zambia; Harare, Zimbabwe; Almaty, Kazakhstan and Kano and Port Harcourt, Nigeria.

Qatar Airways group chief executive, Akbar Al Baker, said: “This year Qatar Airways Group celebrates a quarter of a century of history since its release.

“In 2021, we grew significantly to become the world’s largest global long-haul carrier in 2021 by RPKs. I am extremely proud of the decisions we have made to embrace efficiency and achieve strong cost control across several operational departments whilst engaging in environmental and sustainable initiatives. This has positioned us at the forefront in the field of sustainability, including environmental protection and social commitment. Our strategic investments in a varied fleet of modern, fuel-efficient aircraft has helped us overcome the significant challenges related to capacity constraints while balancing commercial needs as swiftly as possible.”

Qatar Airways recently partnered with flydubai, Kuwait Airways, Oman Air and Saudia to connect World Cup match ticket holders to Doha via Match Day Shuttle flights for 24-hour experiences over the course of the upcoming tournament. Passengers who book the Match Day Shuttle services will receive dedicated on-ground transportation between the airport and stadium when they land in Doha. By choosing to book a Match Day Shuttle flight, fans will arrive in the morning and depart in the evening and will therefore not need to book any hotels.

qatarairways.com

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