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The Group reports the strongest financial performance in its 27-year history, with a total revenue of QAR81 billion (US$22.2 billion) and annual profits 39 per cent higher than the previous year
Total revenue increased by QAR4.7 billion (US$1.3 billion) – up six per cent, marking a significant improvement in the Group’s EBITDA, which grew by QAR1.2 billion (US$0.3 billion)
Qatar Airways passenger loads also surged to more than 40 million – an increase of 26 per cent over last year, as the airline continues to rebound from the recent challenges facing the global travel industry
Qatar Airways Group has reported the strongest financial performance in its 27-year history, announcing record profits of QAR6.1 billion (US$1.7 billion) in its Annual Report for the 2023/24 financial year.
The multiple award-winning airline group reported historic net profits of QAR6.1 billion (US$1.7 billion) during the 2023/24 fiscal, with a total revenue of QAR81 billion (US$22.2 billion), representing an increase of QAR4.7 billion (US$1.3 billion) – up six per cent compared to last year.
The Group generated a strong EBITDA margin of 24 per cent at QAR19.1 billion (US$5.2 billion), around QAR1.2 billion (US$0.3 billion) higher than the previous year, reflecting the business’s continued focus on customer experience, innovation, digitalisation and sustainability, resulting in streamlined, agile and fit-for-purpose operations across all areas.
This has created a strong platform for the future of the Group’s airline business which carried more than 40 million passengers during the 2023/24 fiscal, an increase of 26 per cent over the previous year.
As a result, passenger revenue increased by 19 per cent, with a capacity increase of 21 per cent driven by the airline’s highest-ever load factor of 83 per cent, offering a sustainable upsurge in market share.
Qatar Airways’ network grew to more than 170 destinations in 2023/24, adding Al Ula, Neom and Tabuk, in Saudi Arabia; Lyon and Toulouse, France; Medan, Indonesia; and Trabzon, Turkey throughout the year.
This is in addition to the resumption of operations to 14 destinations, including Bahrain, Bahrain; Birmingham, UK; Beijing, Chengdu and Chongqing, China; Davao, Philippines; Tokyo Haneda and Osaka, Japan; Marrakesh, Morocco; Nice, France; Penang, Malaysia; Phnom Penh, Cambodia, Ras Al Khaimah, UAE; and Yanbu, Saudi Arabia.
Please see the Qatar Airways Group – Annual Report 2023-2024 here:
Annual Report 2024qatarairways.com
Please see the Qatar Airways Group – Consolidated Financial Statement here:
Consolidated Financial Statement 2024qatarairways.com
Top Copyright Photo: Qatar Airways Airbus A350-1041 A7-ANN (msn 356) LAX (Michael B. Ing). Image: 963604.
Qatar Airways aircraft photo gallery:
