Qatar Airways Group announced its financial statements for the entire past financial year, and the group said in its annual report for 2022/2021, that it achieved a net profit of 5.6 billion riyals ($ 1.5 billion), during the year ended March 31, an increase of up to 200% compared to the results of the previous year.
The group’s total revenues increased to 52.3 billion riyals ($ 14.4 billion), an increase of 78% compared to the last fiscal year, and 2% higher than the levels achieved before the outbreak of the Corona pandemic between 2019 and 2020.
Passenger revenue for the second consecutive fiscal year grew by 210% thanks to the growth of the airline's network of destinations, and increasing its market share.
Qatar Airways carried 18.5 million passengers, an increase of 218% compared to the previous fiscal year.
Qatar Airways Cargo also maintained its global position, with revenues growing by 25%, compared to the previous fiscal year, with the growth of cargo capacity (number of tons available per kilometre).
5.6 billion riyals Qatar Airways profits during the fiscal year 2022/2021.
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Historic results
In its report, the group indicated that it had achieved positive results, and said that these results are not only the highest in the group's history, but also at the level of other international airlines that revealed their financial results for the current fiscal year.
Saad bin Sherida al-Kaabi, Minister of State for Energy Affairs of Qatar and Chairman of the Board of Directors of Qatar Airways Group, said that the group has played a pivotal role in the aviation sector, and these financial results are a clear and clear indication of the strong performance of the group, in the wake of a number of challenges.
"We are proud of the achievements we have made this year, and the flexibility and speed with which the group responded to these challenges," he added.
For his part, Akbar Al Baker, Group CEO, said that the group celebrates this year the quarter of a century since the re-launch of its operations, while maintaining strong performance and growing profits.
He added, "Our commitment to providing the best travel options, maintaining the highest levels of safety and security in the aviation sector, and gaining the confidence of our passengers, has enabled us to proudly become the airline of choice for millions of travelers around the world. We have sought to seize all available opportunities and have spared no effort to achieve our goals."
“During 2021, our operations grew significantly to become (our company) the largest long-haul airline in the world, according to the Revenue Passenger Kilometers (RPKs) index,” Al Baker continued.