Qatar Airways has revealed that passenger revenues for the fiscal year 22/23 were up over 100% as it reported USD 21 billion, a record for the company.
The Doha-based airline cites the 2022 FIFA World Cup as a key catalyst for the company’s position in such a favourable position.
USD 21 billion in revenues was a substantial increase from the company’s USD 14.4 billion for the fiscal year prior. However, when it came to their net profit, this was down over USD 300 million from the year before, at USD 1.21 billion.
80% load factors were reported across the company, and key executives largely label the year as important for recovery, obviously with major boosts felt from the 2022 FIFA World Cup. The airline carried 31.7 million passengers, a 71% increase from the previous year.
During the height of the pandemic, Qatar Airways was one of the few airlines that remained flying with a robust international network, helping citizens get home when their national airlines abandoned them. As such, it has won a place in many people’s hearts for its continued service even in difficult times.
While brief news on the fiscal year results has emerged, a full report is yet to be published by the company to understand better where things went well and where things went wrong to explain why certain results fluctuated year on year.