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Qatar’s airline recorded revenues up +45% to $21 billion and a net profit of $1.21 billion for the year to March 31. An all-time record.
Compared with last year, the company’s sales almost doubled (+45% to $21 billion), thanks in particular to a +31% increase in capacity, higher yields of +9% and an 80% load factor.
The Group generated a strong EBITDA margin of 23% to $4.9 billion, well above the previous year’s figure of $30.2 million, and generated net income of $1.21 billion.
“The continued focus on customer experience, loyalty, digitization and sustainability has placed Qatar Airways on a solid platform for the future,” said the company. During the year, it carried 31.7 million passengers, an increase of +71%.
Positive developments
Qatar Airways’ frequent flyer program – Privilège Club – recorded significant growth with new global and local partnerships. But also thanks to revenues buoyed by the arrival of Avios, a loyalty points accumulation program (similar to miles at AirFrance).
From now on, Privilège Club members will be able to access Qatar Airways Group, using the Avios currency for payment in Qatar Duty Free, Discover Qatar and Qatar Holidays, in addition to the existing list of brands.
Over the period 2022-2023, Qatar Airways’ network has grown to more than 160 destinations. The airline resumed flights to 12 destinations, namely Amritsar (India), Beijing (China), Denpasar (Indonesia), Qassim (Saudi Arabia) , Geneva (Switzerland), London Gatwick (UK), Nagpur (India), Perth(Australia), Sarajevo (Bosnia-Herzegovina), Shanghai (China), Taif (Saudi Arabia) and Windhoek (Namibia).
It also launched two new routes to Düsseldorf, Germany and Santorini, Greece.
“This year’s strong financial results are attributed to the strong recovery in passenger demand and the team’s ability to meet that demand, aided by the continued growth of our network, our market leadership, and the operational efficiency provided by our world-beating team,” said Qatar Airways Group Chief Executive Officer Mr. Akbar Al Baker.
“Profitability was driven by a +100% increase in passenger revenues over the past year. Load factors in excess of 80% and current yield levels are the highest in our history. As the global travel recovery from the COVID-19 pandemic continues, we have succeeded in maintaining the high levels of trust, reliability and confidence with our customers.”
A successful year thanks to the Football World Cup
The airline attributed these positive results in part to “an extraordinary year” as FIFA’s Official Partner and Official Airline of the World Cup. During this period, Qatar Airways operated over 14,000 flights, bringing more than 2.4 million fans to Qatari soil.
Another piece of news confirms the airline’s good results. The expansion of Phase B of Hamad International Airport (HIA), which began in January 2023, will increase capacity to 70 million passengers a year. The airport was ranked second best in the world and best airport in the Middle East for the ninth time.
Read also >Qatar : The first-ever Louis Vuitton by Yannick Alléno lounge opens at Hamad International Airport
Featured photo : © Press[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Qatar’s airline recorded revenues up +45% to $21 billion and a net profit of $1.21 billion for the year to March 31. An all-time record.
Compared with last year, the company’s sales almost doubled (+45% to $21 billion), thanks in particular to a +31% increase in capacity, higher yields of +9% and an 80% load factor.
The Group generated a strong EBITDA margin of 23% to $4.9 billion, well above the previous year’s figure of $30.2 million, and generated net income of $1.21 billion.
“The continued focus on customer experience, loyalty, digitization and sustainability has placed Qatar Airways on a solid platform for the future,” said the company. During the year, it carried 31.7 million passengers, an increase of +71%.
Positive developments
Qatar Airways’ frequent flyer program – Privilège Club – recorded significant growth with new global and local partnerships. But also thanks to revenues buoyed by the arrival of Avios, a loyalty points accumulation program (similar to miles at AirFrance).
From now on, Privilège Club members will be able to access Qatar Airways Group, using the Avios currency for payment in Qatar Duty Free, Discover Qatar and Qatar Holidays, in addition to the existing list of brands.
Over the period 2022-2023, Qatar Airways’ network has grown to more than 160 destinations. The airline resumed flights to 12 destinations, namely Amritsar (India), Beijing (China), Denpasar (Indonesia), Qassim (Saudi Arabia) , Geneva (Switzerland), London Gatwick (UK), Nagpur (India), Perth(Australia), Sarajevo (Bosnia-Herzegovina), Shanghai (China), Taif (Saudi Arabia) and Windhoek (Namibia).
It also launched two new routes to Düsseldorf, Germany and Santorini, Greece.
“This year’s strong financial results are attributed to the strong recovery in passenger demand and the team’s ability to meet that demand, aided by the continued growth of our network, our market leadership, and the operational efficiency provided by our world-beating team,” said Qatar Airways Group Chief Executive Officer Mr. Akbar Al Baker.
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Qatar’s airline recorded revenues up +45% to $21 billion and a net profit of $1.21 billion for the year to March 31. An all-time record.
Compared with last year, the company’s sales almost doubled (+45% to $21 billion), thanks in particular to a +31% increase in capacity, higher yields of +9% and an 80% load factor.
The Group generated a strong EBITDA margin of 23% to $4.9 billion, well above the previous year’s figure of $30.2 million, and generated net income of $1.21 billion.
“The continued focus on customer experience, loyalty, digitization and sustainability has placed Qatar Airways on a solid platform for the future,” said the company. During the year, it carried 31.7 million passengers, an increase of +71%.
Positive developments
Qatar Airways’ frequent flyer program – Privilège Club – recorded significant growth with new global and local partnerships. But also thanks to revenues buoyed by the arrival of Avios, a loyalty points accumulation program (similar to miles at AirFrance).
From now on, Privilège Club members will be able to access Qatar Airways Group, using the Avios currency for payment in Qatar Duty Free, Discover Qatar and Qatar Holidays, in addition to the existing list of brands.
Over the period 2022-2023, Qatar Airways’ network has grown to more than 160 destinations. The airline resumed flights to 12 destinations, namely Amritsar (India), Beijing (China), Denpasar (Indonesia), Qassim (Saudi Arabia) , Geneva (Switzerland), London Gatwick (UK), Nagpur (India), Perth(Australia), Sarajevo (Bosnia-Herzegovina), Shanghai (China), Taif (Saudi Arabia) and Windhoek (Namibia).
It also launched two new routes to Düsseldorf, Germany and Santorini, Greece.
“This year’s strong financial results are attributed to the strong recovery in passenger demand and the team’s ability to meet that demand, aided by the continued growth of our network, our market leadership, and the operational efficiency provided by our world-beating team,” said Qatar Airways Group Chief Executive Officer Mr. Akbar Al Baker.
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