Qatar Airways achieves a net profit of 4.4 billion riyals during the fiscal season (2022/2023)


Qatar Airways Group achieved a net profit of 4.4 billion riyals (about 1.21 billion US dollars) during the fiscal year (2022/2023).

Qatar Airways Group released its annual report for the fiscal year 2022/23, showing strong financial performance. She attributed this to its distinguished strategy during an exceptional year by describing the Qatari carrier as the official partner of FIFA and the official airline partner of the FIFA World Cup Qatar 2022™, in addition to its distinguished products that focus on meeting customer needs and growing market opportunities, as well as the competence and commitment of its employees around the world. .

Qatar Airways Group achieved a net profit of 4.4 billion Qatari riyals (1.21 billion US dollars) during the fiscal year 2022/23. Total revenues increased to 76.3 billion Qatari riyals (21.0 billion US dollars), an increase of 45 percent compared to fiscal year 2022/23. Passenger revenues also increased by 100 percent over the past year, as a result of capacity increases by 31 percent, recording higher revenues by 9 percent, and the seat load factor increased by 80 percent – both of which are the highest in the history of the Qatari carrier – which led to growth and increase in its market share. Qatar Airways also carried more than 31.7 million passengers, an increase of 71 percent compared to the previous fiscal year.

The relentless focus on customer experience, digitization and sustainability has positioned Qatar Airways as a frontrunner for the future. Privilege Club, Qatar Airways’ loyalty programme, has also seen significant growth with several new global and local partnerships, as well as enhanced offerings and the adoption of Avios as its currency. Honorable members can now benefit from collecting Avios or using them in Qatar Duty Free, Discover Qatar and Qatar Holidays, in addition to a wide range of leading international brands.

Qatar Airways Cargo maintained its leading position in the world during the fiscal year 2022/23, despite the ongoing market challenges. The Qatari carrier has relied on strategic plans that focus on growth, sustainability and digitization.

The Group achieved an EBITDA margin of 23 percent, or 17.8 billion Qatari riyals (4.9 billion US dollars). EBITDA margin for this year is higher than last year by QR 110 billion (US$ 30.2 billion), thanks to smooth and flexible operations and responsiveness to requirements in all areas of the business. These positive profits reflected the expansion of Qatar Airways’ network of destinations for passengers and freight alike, and demonstrated the commitment of the national carrier of the State of Qatar to consolidate its relationship with customers and partners, along with strong cost control.

Hosting the FIFA World Cup Qatar 2022™ proved the flexibility and efficiency of the national carrier of the State of Qatar, as it succeeded in carrying more than 1.4 million passengers as the official airline partner of the tournament. Qatar Airways’ network extended to more than 160 destinations in 2022/23. Qatar Airways has resumed operations to eleven destinations including Amritsar in India, Beijing in China, Denpasar in Indonesia, Gassim in Saudi Arabia; Geneva in Switzerland, London Gatwick in the United Kingdom, Nagpur in India, Sarajevo in Bosnia and Herzegovina, Shanghai in China; Taif in Saudi Arabia and Windhoek in Namibia.

During 2022/23, Qatar Airways launched three new destinations within its growing network of destinations, which included Luxor in Egypt, Dusseldorf in Germany and Santorini in Greece, providing more travel options for travelers. Qatar Airways has also resumed flights to a number of cities, including Gassim in the Kingdom of Saudi Arabia and Perth in Australia.

His Excellency Mr. Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs and Chairman of Qatar Airways Group, said: “I am pleased to announce that the Qatar Airways Group has shown an impressive and exceptional annual performance this year. The transportation sector in Qatar is essential for its pivotal contribution in bringing together people from around the world. The State of Qatar is also proud to host more than a million fans from all over the world during the FIFA World Cup Qatar 2022™, as the country presented an exceptional version of the World Cup tournament and set an unparalleled standard in terms of tournament security and safety, and it also becomes a preferred tourist destination for families.”

For his part, His Excellency Mr. Akbar Al Baker, CEO of Qatar Airways Group, said: “These impressive financial results are a clear indication of the recovery of the aviation sector and the increase in demand for travel. Our global network and our leadership in the global aviation industry I am pleased to announce that passenger revenue grew 100 percent during fiscal year 2022/23 in addition to an 80 percent increase in seat factor, the highest in our history. As the global travel industry continues to recover from the COVID-19 pandemic, Qatar Airways has maintained the highest levels of trust and credibility and its leading global position as the airline of choice for millions of travelers around the world, as Qatar Airways carried more than 31.7 million passengers, an increase of 71 percent over last year.

The national carrier of the State of Qatar, as the Official Airline Partner of the FIFA World Cup Qatar 2022™, succeeded in bringing the peoples of the world together through the power of sport throughout the fiscal period 2022/23. Between November and December 2022, Qatar Airways operated more than 14,000 flights, To be able to travel with 2.4 million fans to follow the largest football event ever, and to give football fans the opportunity to enjoy many entertainment events over the 64 matches. Five billion fans interacted during the FIFA World Cup Qatar 2022™, resulting in massive media revenue for the Qatar Airways brand of more than 63 per cent compared to the 2018 World Cup Russia. Social media engagement of the tournament by followers increased by more than from 83 per cent.

Hamad International Airport is an ideal airport for business or leisure travelers, thanks to its strategic location and a six-hour flight distance from more than 80% of the world’s population. It is worth noting that the second phase of the expansion of Hamad International Airport began in January 2023, which will increase the airport’s capacity to accommodate more than 70 million passengers annually. Hamad International Airport won the award for the second best airport in the world and the best airport for shopping in the world during the 2023 Skytrax World Awards. In addition, Hamad International Airport was awarded the Best Airport in the Middle East for the ninth time in a row.

Qatar Airways, the Official Airline Partner of Paris Saint-Germain FC since 2020, has taken its partnership to new heights by becoming the Official Airline Partner of the award-winning French club for several years, starting in the 2022/23 season. Qatar Airways is proud of its partnerships with world-famous sports clubs, including FC Bayern Munich, Al Sadd Football Club, Qatar National Football Team, Brooklyn Nets Basketball Club and Sydney Swans. Qatar Airways has also become the official airline partner of the Formula 1® racing championship for five years, allowing the Qatar Airways brand to be present in 21 races, as well as being the official title sponsor in three races, including the Qatar Airways Grand Prix – Qatar. Qatar Airways has also become the official airline partner for the professional European Rugby Union and Club Rugby competitions, connecting key travel markets across Western Europe and South Africa. The Qatar Airways has also signed a partnership agreement with one of the most prestigious international cricket clubs, the Royal Challengers Bangalore Club, to become the official flight partner for the club’s shirt in the Indian Premier League.

Qatar Executive, a subsidiary of the Qatar Airways Group, achieved a record number of operational services during the fiscal year 2022/23. This was evidenced by a huge increase in commercial sales revenues, total flying hours and also in the number of flights arriving and departing Doha International Airport, as well as the growth of its aircraft fleet, and the improvements made to provide the best service to passengers.

It is worth noting that the year 2022/23 was also an exceptional year for Discover Qatar, as the work team strengthened its focus on customers to achieve the highest levels of excellence through careful planning and intensive preparation over the past 12 months, as Discover Qatar provided many logistical arrangements and tourist trips before and during the edition. special edition of the FIFA World Cup Qatar 2022™, to a wide range of visitors and customers including FIFA representatives, tour operators, commercial partners, sponsors and football fans.

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