Qatar Airways on Thursday reported record annual revenue of QR76.3 billion ($21 billion), boosted by growth in its customer base after the Doha-based carrier hosted the FIFA World Cup as its official partner and airline.
The company said in a statement that the net profit for the fiscal year 2022-2023 amounted to 4.4 billion Qatari riyals ($ 1.21 billion), as the airline carried 31.7 million passengers, up 71% year-on-year.
Total revenues reached QR76.3 billion ($21 billion), an increase of 45 percent compared to the fiscal year 2022/2021, the statement said.
The airline recorded a load factor of 80% and the highest revenue in the airline's history.
Qatar Airways Group Achieves Record Profits as Expands https://t.co/Ftyk9G0kr1
— Qatar Airways (@qatarairwaysar) July 5, 2023
The airline said it carried more than 31.7 million passengers, up 71 percent from last fiscal year.
During the World Cup, Qatar Airways operated around 14,1 flights carrying more than 4.<> million fans.
Qatar Airways Chief Executive Akbar Al Baker said in May that the airline could increase the number of destinations to more than 255 from 170 as part of plans for rapid growth.
World Cup jumps Qatar
Airways Group's revenues Doha / Anatolia Qatar Airways Group
achieved significant revenue growth for the last fiscal year 2023/2022 ending last March, supported by Qatar's hosting of the 2022 World Cup.
Passenger revenue also increased by 100 per cent over the past year, driven by a 31 per cent increase in capacity to record 9 per cent higher revenues and an 80 per cent increase in seat occupancy, both the highest in the airline's history.
Qatar Airways' network extended to more than 160 destinations in 2023/2022; it resumed operations to 11 destinations including Amritsar in India, Beijing in China, Gassim in Saudi Arabia and Geneva in Switzerland.
During the period, Qatar Airways also launched three new destinations in its growing network, including Luxor in Egypt, Düsseldorf in Germany and Santorini in Greece.