During the fiscal year 2021-2022, Qatar Airways Group recorded a net profit of USD1.54 billion.
The state-owned airline’s overall revenue has increased to QR52.3 billion (USD14.4 billion) up by 78 percent compared to the previous year, a remarkable two percent higher than the pre-Covid financial year (2019-2020). Due to the growth of the Qatar Airways network, there is an increase in the market share and higher unit revenue for the second financial year in a row, and the passenger revenue of the company has increased by 210 percent over the last financial year. Over the last year, Qatar Airways carried 18.5 million passengers, an increase of 218 percent from the last financial year.
Qatar Airways Cargo retains its spot as the world’s leading freight carrier
Qatar Airways Cargo remained the leading player in the world as its revenue increased by 25 percent over the last year with growth in the cargo capacity touching 25 percent annually.
Due to the efficient, agile and par excellence operations across all business areas the Group generated a strong EBITDA Margin of 34 percent at QR17.7 billion (USD4.9 billion). EBITDA was higher than the last year by QR11.8 billion (USD3.2 billion).
Combined with strong cost control and product excellence, building further customer and trade loyalty, these record earnings are the outcome of decisions made during the pandemic to expand the Qatar Airways cargo and passenger networks, with a more accurate forecast to recover the global market.
Qatar Airways Group Chairman and Minister of State for Energy, Saad Bin Sharida Al-Kaabi said that the Qatar Airways Group has established a strong role in the aviation sector and these financial results are a clear indication of the Group’s strong performance against challenges during the previous year. He also said that he was delighted by the achievements that had been accomplished this year and by the way the Group has quickly responded to challenges in the market.
Whilst maintaining growing profitability and strong performance, Qatar Airways Group celebrates a quarter of a century this year since its relaunch. The company’s commitment is to provide a wide choice to passengers by maintaining high levels of safety standards in the aviation sector and earning the trust of millions of travelers around the world, the Chief Executive of Qatar Airways Group, Akbar Al Baker, mentioned in a statement.
In addition to recognition for the airline’s hub, Hamad International Airport as ‘Best Airport in the World’ 2021, the company grew significantly to become the world’s largest global long-haul carrier in 2021 by RPK. The airline also received the industry’s most prestigious award ‘Airline of the Year’ for a record-breaking sixth time in the Skytrax World Airline Awards.
He also added that the Qatar Airways Cargo division earned three major industry awards including Cargo Operator of the Year at the ATW Airline Awards; Air Cargo Industry Achievement Award at Air Cargo Week’s World Air Cargo Awards and Cargo Airline of the Year. The CEO mentioned that the achievements of the airline highlighted the brand reputation of the company and its constant endeavors across the Qatar Airways Group.
Throughout this year, the Qatar Airways Group maintained a highly-successful and wealthy portfolio of regional and global partnerships to champion the brand across the world including global sporting clubs- Boca Juniors, Brooklyn Mets, Al Sadd SC, Paris Saint-Germain and FC Bayern Munchen, the partnership with the South American Football Confederation (CONMEBOL) and FIFA.
During this fiscal, the airline transported more than 3 million tonnes of air freight and secured an 8 percent share in the global cargo market. It also transported more than 600 million doses of Covid-19 vaccines during the pandemic. The company also underlined its commitment to its ground-breaking initiative which consists of a series of positive and impactful actions based on the core pillars of environment, society, economy, culture, and sustainability.