When it comes to profitability, the premium carriers have had a field year. We’ve already seen Emirates and Singapore Airlines post record profits (breaking their own records set last year). Qatar Airways has announced its results for the financial year 2023-24, and it has also produced great numbers.

Qatar Airways Group reports USD 1.7 Billion in profits.

Qatar Airways Group, which consists of the airline, the Doha Airport, a catering company and other associated businesses, today announced a strong financial result for the period April 2023 – March 2024.

On a group level, the airline group has reported the strongest financial performance in its 27-year history, with a total revenue of USD 22.2 Billion. In terms of profits, the group clocked USD 1.7 billion in profits, which is 39% higher than the previous year.

Qatar Airways carried more than 40 million passengers during the 2023/24 fiscal year, an increase of 26 percent over the previous year. The airline also witnessed its highest-ever load factor of 83 percent.

Qatar Airways Privilege Club has also continued to grow for the airline, with membership increasing by 26% in 2023-24.  Member engagement also reached record levels, with Avios collection growing by over 50 per cent, while Avios spending has grown by 75 per cent, in a year that witnessed the launch of key partnerships in India, Saudi Arabia and Kuwait.

Qatar Airways’ Group CEO, Engr. Badr Mohammed Al-Meer, said

These very strong financials are a testament to the ambition and clear direction that has informed the Qatar Airways Group’s progress throughout the 2023/24 financial year.

Our continued focus on profitability, efficiency and customer experience have been underpinned by a strategic programme of network growth and fleet expansion, resulting in the highest revenues and profit margins in the history of the airline. We also cemented our undisputed role as a key industry leader, maintaining our position as the airline of choice for millions of passengers worldwide.

This incredible achievement is in no small part thanks to the collective endeavour of the entire Qatar Airways Group family who have worked tirelessly to achieve such stellar results. We must now use this as a foundation on which to build our continued success.

Bottomline

Qatar Airways, and the Qatar Airways Group have posted record numbers in the financial year 2023-24. The airline group has reported the strongest financial performance in its 27-year history, with a total revenue of USD 22.2 Billion. The group clocked USD 1.7 billion in profits. Qatar Airways carried more than 40 million passengers during the 2023/24 fiscal year.

What do you make of the large profits and stellar results of Qatar Airways Group?

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