A Qatar Airways carrier airborne
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 per cent compared to last year and a remarkable two per cent higher than the full financial year pre-COVID (i.e., 2019/20).
Passenger revenue increased by 210 per cent 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 per cent over last year.
Qatar Airways Cargo remained the leading player in the world as its revenue experienced an impressive growth of 25 per cent over last year with the growth in cargo capacity (Available Tonne Kilometres) of 25 per cent annually.
The group generated strong EBITDA Margin of 34 per cent at QAR 17.7 billion (US$ 4.9 billion). EBITDA was higher than the previous year by QAR 11.8 billion (US$ 3.2 billion) due to streamlined, agile and fit-for-purpose operations across all business areas.
Despite the challenges of COVID-19, the airline grew to more than 140 destinations in 2021/22, opening new routes including Abidjan, Côte d’Ivoire; Lusaka, Zambia; Harare, Zimbabwe; Almaty, Kazakhstan and Kano and Port Harcourt, Nigeria in addition to resuming flights to key markets across Europe, Africa, the Middle East and Asia.
Minister of State for Energy and Qatar Airways Group Chairman, Saad Bin Sharida Al-Kaabi, said “Qatar Airways Group has demonstrated a robust role in the aviation industry, and these financial results are a clear indication of the Group’s strong performance.”
Qatar Airways Group Chief Executive, Akbar Al Baker, said: “This year Qatar Airways Group celebrates a quarter of a century of history since its relaunch, whilst maintaining strong performance and growing profitability. Our commitment to providing the greatest choices to our passengers, maintaining the highest levels of safety in the industry and earning trust have made us proudly become the airline of choice for millions of travelers around the world.
“In 2021, we grew significantly to become the world’s largest global long-haul carrier in 2021 by RPKs. We also received the industry’s most prestigious accolade ‘Airline of the Year’ for a record-breaking sixth time in the Skytrax World Airline Awards in addition to the recognition for the airline’s hub, Hamad International Airport, as the ‘Best Airport in the World’ 2021.”