Qatar Airways Group posted strong financial results last week for the fiscal year 2022/2023, with record-breaking revenues of $21 billion (QAR 76.3 billion).
The group registered $1.21 billion (QAR4.4 billion) in net profit, with a 45 per cent upsurge in consolidated revenue compared to the preceding year, at $21 billion (QAR 76.3 billion).
The airline said that this significant growth was primarily driven by a 100 per cent increase in passenger revenue, supported by a capacity expansion of 31 per cent, a 9 per cent rise in yields, and an 80 per cent load factor, the highest in the carrier’s history.
As a result, Qatar Airways’ market share saw sustainable growth in FY22/23, serving 31.7 million passengers, a 71 per cent rise compared to the previous year.
The group posted a strong EBITDA Margin of 23 per cent at $4.9 billion (QAR17.8 billion), an increase of $30.2 million (QAR110 million) compared to the previous year.
The positive earnings highlight Qatar Airways’ effective management across all business areas, which contributed to the expansion of its passenger and cargo network, as well as boosting customer and trade loyalty and product excellence while maintaining effective cost control.