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Qatar Airways achieves record annual profit of 1.48 billion euros

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Qatar Airways announced Thursday record profits of 1.48 billion euros in fiscal year 2021-2022, the largest in the airline industry worldwide in that period despite the difficulties of covid-19.

The airline highlighted in a statement that these are the best results in its 25-year history, as they are “200% above its highest annual historical profit”.

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The company attributes these positive results to its “agility and successful strategy, which continued to focus on customer needs and evolving market opportunities.”

Total revenue increased to 52.3 billion Qatari rials (€13.836 billion), up 78% compared to last year and a notable 2% increase over the fiscal year prior to covid-19, the airline said.

It also said passenger revenues grew 210 % over last year, due to growth in Qatar Airways’ global destination network, increased market share and higher unit profits, for the second consecutive fiscal year.

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Qatar Airways carried 18.5 million passengers in the 2021-2022 financial year, up 218%, and said it remained the world leader in cargo, a sector in which it achieved an estimated 25% increase in revenue over last year.

The company also said it grew to more than 140 destinations after opening new routes and resuming flights to key markets in Europe, Africa, the Middle East and Asia.

“Our strategic investments in a diverse, modern and fuel-efficient aircraft fleet have helped us overcome the challenges of capacity constraints, while balancing commercial needs,” said the airline’s chief executive officer, Akbar Al Baker.

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