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Qatar Airways Group reports record-breaking net profit of QR6.1Bn
The Peninsula
Doha, Qatar: Qatar Airways Group has today reported the strongest financial performance in its 27 year history, announcing record profits of QAR6.1 bi...
Doha, Qatar: Qatar Airways Group has today 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.