Skip to main content

Qatar Airways posts 39% jump in annual profit to record $1.67 billion

1 min

Qatar Airways posted a 39% jump in annual net profit to a record 6.1 billion Qatari riyals ($1.67 billion) on Tuesday.

Badr Mohammed Al-Meer

Qatar Airways posted a 39% jump in annual net profit to a record 6.1 billion Qatari riyals ($1.67 billion) on Tuesday.

Revenue grew by 6% to 81 billion riyals in the year ended March 31, the government-owned airline said.

It carried more than 40 million passengers and recorded a load factor of 83%.

"Our continued focus on profitability, efficiency and customer experience have been underpinned by a strategic programme of network growth and fleet expansion, resulting in the highest revenues and profit margins in the history of the airline", CEO Badr Mohammed Al-Meer was quoted as saying in a statement from the airline.

Demand for air travel has rebounded since the pandemic, but airlines have been constrained as planemakers struggle to get back to previous production levels due to disrupted supply chains and a safety crisis at Boeing.

In May, Al-Meer said aircraft manufacturers like Airbus and Boeing needed to put more pressure on their suppliers to reduce delivery delays.

The airline last month announced it was in talks with the two planemakers regarding a major wide-body order.

The carrier is also in talks to buy a stake of up to 20% in Bain Capital-owned Virgin Australia, according to a report last week.

($1 = 3.6445 Qatar riyals)

Reporting by Federico Maccioni

Tags

Related

United Arab Emirates

The Francophonie Summit: A symbol of diminishing relevance?

As French President Emmanuel Macron hosts the Francophonie Summit this Friday and Saturday, the event highlights both the diplomatic limitations facing Macron after his electoral defeat and the growing questions about the relevance and coherence of the organization itself.

Lebanon

Israel strikes heart of Beirut, Iranian president is defiant

Israel's military said it killed 15 Hezbollah militants in south Lebanon on Thursday and bombed Beirut after its forces suffered their deadliest day on the Lebanese front in a year of clashes with the Iran-backed group.

Subscribe to our newsletter

Mena banner 4

To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.

  • Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.