Tuesday, July 2, 2024 Today, Qatar Airways Group disclosed its most successful financial outcomes in its 27-year history, revealing unprecedented profits of QAR6.1 billion (US$1.7 billion) for the 2023/24 fiscal year, according to its latest Annual Report.
The renowned airline group achieved a milestone net profit of QAR6.1 billion (US$1.7 billion) and generated QAR81 billion (US$22.
2 billion) in total revenue—an increase of QAR4.7 billion (US$1.3 billion) or six percent from the previous year.
With a robust EBITDA margin of 24 percent totaling QAR19.1 billion (US$5.2 billion), up QAR1.
2 billion (US$0.3 billion) from last year, the group credits its success to its emphasis on customer experience, innovation, digitalization, and sustainability. These efforts have optimized operations and established a solid foundation for the future.
Over the fiscal year, the airline transported over 40 million passengers, marking a 26 percent increase from the prior year. This surge in passengers led to a 19 percent rise in passenger revenue, supported by a record load factor of 83 percent and a capacity increase of 21 percent, enhancing the airline’s market presence. In its 20th year, Qatar Airways Cargo continued to lead globally, focusing on digital and sustainable growth, which elevated its market share to 7.
1 percent. Qatar Executive also saw significant growth, with a 17 percent increase in charter revenue and a 21 percent increase in flying hours, especially in Europe, the US, and .