Qatar Airways Group breaks 27-year record with QAR6.1 Billion profit
Qatar Airways Group has announced the strongest financial performance in its 27-year history, with record profits of QAR6.1 billion (US$ 1.7 Billion) for the 2023/2024 financial year. The group reported total revenue of QAR8.1 billion (US$ 22.2 billion), a 6% increase from the previous year.
The airline achieved an EBITDA margin of 24%, amounting to QAR 19.1 billion (US$ 5.2 billion), reflecting a rise of QAR 1.2 billion (US$0.3 billion) compared to last year. The group attributed its success to a focus on customer experience innovation, digitalization and sustainability.
During the 2023/2024 fiscal year, Qatar Airways carried over 40 million passengers, a 26% increase from the previous year. Passenger revenue grew by 19% driven by a 21% increase in capacity and a record load factor of 83%.
HE Engr. Saad Bin Sharida Al-Kaabi, Minister of State for Energy and Qatar Airways Group Chairman, highlighted the group's resilience and adaptability in the face of global travel industry challenges. CEO Engr. Badr Mohammed Al-Meer emphasized the strategic focus on profitability, efficiency and customer experience as key factors in achieving the highest revenue nd profit margins in the airline's history.
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