Qatar Airways announces a record profit of USD1.54 billion

NL Today

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Kathmandu: Qatar Airways Group has celebrated its milestone 25th Anniversary year of operation with its strongest financial performance reflected in its published annual report for 2021/22, 200 percent above its highest annual historical profit.

In the most difficult period ever in the global airline industry, the airline credits its positive results to its agility and successful strategy which continued to focus on customer needs and evolving market opportunities, as well as efficiency and the commitment of its worldwide employees. This profit is not only a record for Qatar Airways Group, but also a record among all other airlines that have published financial results for this financial year worldwide, it said in a press release.

Qatar Airways Group reported a record net profit of QAR 5.6 billion (US$ 1.54 billion) during the fiscal year 2021/22. Overall revenue increased to QAR 52.3 billion (US$ 14.4 billion), up 78 percent compared to last year and a remarkable two percent higher than the full financial year pre-Covid (i.e., 2019/20). Passenger revenue increased by 210 percent over the last year, due to the growth of the Qatar Airways network, increase in market share and higher unit revenue, for the second financial year in a row. Qatar Airways carried 18.5 million passengers, an increase of 218 percent over last year.

Qatar Airways Cargo remained the leading player in the world as its revenue experienced impressive growth of 25 percent over last year with a growth in cargo capacity (Available Tonne Kilometres) of 25 percent annually.

Despite the challenges of COVID-19, the national carrier of the State of Qatar grew to more than 140 destinations in 2021/22.