During the fiscal year 2021-22, Qatar Airways Group announced a record net profit of QAR5.6bn ($1.54bn), which was 200 percent more than its previous best annual profit.
Overall revenue grew to QAR52.3 billion ($14.4 billion), up 78% from the previous year and 2% higher than FY 2019/20. Due to the expansion of Qatar Airways’ network, improved market share, and higher unit revenue, passenger revenue climbed by 210 percent year over year.
Qatar Airways carried 18.5 million passengers, up 218 percent over the previous year. Qatar Airways Cargo had a 25% increase in income year over year, as well as a 25% increase in cargo capacity. At QAR17.7 billion ($4.9 billion), the company had a solid EBITDA margin of 34%.
EBITDA was higher than the previous year by QAR11.8bn ($3.2bn) due to streamlined, agile, and fit-for-purpose operations across all business areas.
The national carrier 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. 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.
“In 2021, we grew significantly to become the world’s largest global long-haul carrier 2021 by RPKs. I am extremely proud of the decisions we have made to embrace efficiency and achieve strong cost control across several operational departments whilst engaging in environmental and sustainable initiatives. This has positioned us at the forefront in the field of sustainability, including environmental protection and social commitment.”
Against the backdrop of the pandemic disruption, Qatar Airways Cargo transported more than three million tonnes of air freight and secured an 8 percent 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 on enhancing its renowned pharma product and industry presence.
Last month, Qatar Airways announced an increase in flights between Abu Dhabi and Doha with the airline aiming to operate triple-daily flights, starting July 10.
