The Qatari airline has reported a record profit of $1.54 billion (€1.47 billion) for the 2021-2022 fiscal year.
Qatar Airways has just revealed in a statement to have completed the highest fiscal year in its history, profit even “200% higher than its highest annual profit” and the largest in 25 years, says moreover the latter.
“This figure represents not only a record for the Qatar Airways group, but also a record among all other airlines that have published their financial results for this fiscal year in the world,” the report said.
In more detail, throughout the 2021-2022 fiscal year, Qatar Airways carried 18.5 million passengers on board to 140 destinations, which represents an exponential increase of 218% over the previous fiscal year. In addition, revenue per passenger also increased, by 210% compared to last year.
Total revenue for the period from April 1, 2021 to March 31, 2022 was $14.4 billion, or €13.8 billion, an increase of 78% over the same period last year. This increase also beat pre-covid results, up 2% from fiscal 2019-2020.
“These record profits are the result of decisions taken during the pandemic to expand Qatar Airways’ passenger and cargo networks, with a clearer outlook on the recovery of the global market,” the company boasts.
Indeed, the company recorded an annual loss of €3.5 billion as of March 31, 2021 due to the pandemic and the freezing of airlines, which had to cope with the fall in global air traffic. However, thanks to a €2.5 billion aid from the Qatari government, the company was able to recover and end the year with record results.
These results should continue to rise throughout 2022, with global tourism on the rise since spring 2022.
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Featured photo : © Qatar Airways
