Qatar Airways Group has reported a record net profit of QR5.6 billion ($1.54 billion) during the fiscal year 2021/22.
Overall revenue increased to QR52.3 billion ($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 QR17.7 billion ($4.9 billion). EBITDA was higher than the previous year by QR11.8 billion ($3.2 billion) due to streamlined, agile and fit-for-purpose operations across all business areas. These record earnings are the result of decisions made during the pandemic to expand the Qatar Airways’ passenger and cargo networks, with a more accurate forecast of the global market recovery, building further customer and trade loyalty and product excellence combined with strong cost control.
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. Against challenges during the previous period, I am delighted by the achievements that have been accomplished this year and by the way the Group has swiftly responded to these challenges.”
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 travellers 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 recognition for the airline’s hub, Hamad International Airport as ‘Best Airport in the World’ 2021. The Qatar Airways Cargo division also earned three major industry awards including Cargo Operator of the Year at the ATW Airline Awards; Cargo Airline of the Year, and Air Cargo Industry Achievement Award at Air Cargo Week’s World Air Cargo Awards. These achievements not only highlight our exceptional brand reputation but also our outstanding hard work across the Qatar Airways Group family.”
Throughout this year, the Qatar Airways Group maintained a highly-successful and wealthy portfolio of regional and global partnerships to champion the brand across the world including global sporting clubs – Al Sadd SC, Boca Juniors, Brooklyn Nets, FC Bayern München, and Paris Saint-Germain, the partnership with the South American Football Confederation (CONMEBOL) and FIFA.
Qatar Airways Cargo transported more than 3 million tonnes of air freight and securing eight per cent share in the global market. Cargo also transported more than 600 million doses of Covid-19 vaccines over the course of the pandemic to date and also concentrated its efforts in enhancing its renowned pharma product and industry presence, while also ensuring commitment to its ground-breaking WeQare initiative, which consists of a series of positive and impactful actions in the form of chapters based on the core pillars of sustainability - environment, society, economy and culture.
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