Qatar Airways

Performance indicators

2023: Record profit - $1.7 billion

Qatar airline Qatar Airways at the end of the financial year, which ended in March 2024, made a profit of 6.11 billion Qatari rials ($1.7 billion) - this is an absolute record. The growth compared to the indicator of one year ago was 39%. Such data are given in the financial report published on July 2, 2024.

Qatar Airways' annual revenue was recorded at 80.96 billion Qatari rials ($22.2 billion) against 76.27 billion in the 2022/2023 financial year: thus, the growth was 4.7 billion Qatari rials ($1.3 billion), or 6%. Overall, the highest results in 27 years are said to have been achieved.

𝓲

Unsplash

In the 2023/2024 financial year, the company carried more than 40 million passengers, up 26% from a year earlier when 31.75 million people were served. The number of aircraft in Qatar Airways' fleet increased year-on-year from 265 to 284. As a result, passenger revenues jumped 19% and capacity climbed 21% thanks to the airline's highest ever load rate of 83%.

The report notes that the increase in indicators is largely due to the recovery of the global tourism and air travel market after the end of the peak of the COVID-19 pandemic and the lifting of coronavirus restrictions. During the financial year ended, operations were resumed in 14 areas, including Bahrain; Birmingham (Britain); Beijing, Chengdu and Chongqing (China); Davao (Philippines); Tokyo and Osaka (Japan ); Marrakech (Morocco); Nice (France); Penang ( Malaysia); Phnom Penh ( Cambodia), Ras al-Khaimah (UAE) and Yanbu (Saudi Arabia). In the 2023/2024 financial year, the document said, Qatar Airways' network grew to more than 170 destinations.^[1]

History

2019: Qatar Airways buys Rwanda International Airport

In December 2019, Qatar Airways agreed to acquire a 60% stake in a $1.3 billion international airport under construction in Rwanda, the Rwanda State Development Council said in a statement.

The council said that in five years, upon completion of the first phase of construction in the Bugesera area, about 25 km southeast of Kigali, the airport will be able to accommodate up to 7 million passengers a year. In the second stage, by 2032, it will be possible to double the capacity to 14 million passengers per year.

Notes