Qatar Airways Group has achieved its best financial performance in its 27-year history, with a record profit of QR6.1bn ($1.7bn) in the 2023/24 Annual Report.
The airline group, known for its numerous awards, reported a historic net profit of QR6.1bn ($1.7bn) for the fiscal year 2023/24, with a total revenue of QR81bn ($22.2bn). This represents a significant increase of QR4.7bn ($1.3bn), marking a six percent rise compared to the previous year. The Group achieved a robust EBITDA margin of 24 percent at QR19.1bn ($5.2bn), which is approximately QR1.2bn ($0.3bn) higher than the previous year. This growth is attributed to the company’s unwavering focus on enhancing customer experience, fostering innovation, embracing digitalization, and promoting sustainability.
These efforts have led to efficient and adaptable operations across all sectors. The Group’s airline business is now well-positioned for the future, having served over 40 million passengers in the 2023/24 fiscal year, marking a 26 percent increase from the previous year.
As a result, passenger revenue increased by 19 percent, with a capacity increase of 21 percent driven by the airline’s highest-ever load factor of 83 percent, offering a sustainable upsurge in market share.
A few days back, the airline was honored with the title of “Airline of the Year” by Skytrax, reclaiming the top spot for an unprecedented eighth time.
This accolade showcases the airline’s enduring commitment to excellence. Furthermore, the 5-star carrier also received recognition with three more awards: “World’s Best Business Class,” “World’s Best Business Class Airline Lounge,” and “Best Airline in the Middle East.”.
Recently, Hamad International Airport, the home and hub of Qatar Airways, was awarded the title of “World’s Best Airport” by Skytrax for the third time in 2024.
Additionally, the airport was recognized as the “Best Airport in the Middle East” for the tenth time, and Qatar Duty Free, the airport’s retail, received the “World’s Best Airport Shopping” award for the second consecutive year. This exceptional accomplishment marks the first time that an airline, an airport, and the airport’s retail have all been honored as “World’s Best” in all three Skytrax categories.
Furthermore, Qatar Airways was recognized by AirlineRatings.com as the “Airline of the Year” for 2024, further emphasizing its commitment to excellence in customer service, innovation, and safety. The recognition showcases Qatar Airways’ commitment to delivering premium services and improving passenger satisfaction throughout its worldwide operations, in line with the vision of the airline’s founders.
One can only wish the airline more successes as it continues to put Qatar on the global map. Mabrook!!!
