Qatar Airways Announces Huge Profits

Qatar Airways has announced strong performance levels for the first half of 2023/24.

The first half of the year results were revealed thanks to a routine press release by the Qatar Airways Group.

Breaking Down The First Half Results

Qatar Airways says it recorded a net profit of USD 1.026 billion for the first half of fiscal year 2023/24.

Thanks to these results, it represents a 113.8% increase for the same period one year prior.

Meanwhile, total group revenue increased 7.4% over the previous year to USD 11.019 billion.

Passenger revenues rose 28.5% over the previous year as the company increased global services.

This was reflected by increased load factors reaching 83.3%, as well as more people choosing to fly the Doha-based carrier. Total passengers carried for the first six months ending September 2023 increased to 19.078 million.

Qatar Airways notes that this reflects an increase of around 22.5% compared to the same period. An increase attributed thanks to the successful endeavours of the business through partnerships and other global alliance partners.

Comments From Qatar Airways Chief

Qatar Airways Group is a unique business that continues to perform at the highest level in the aviation industry. The FIFA World Cup Qatar 2022™, created a very solid base on which to build Qatar’s ambition to grow as a leading tourism destination in the Middle East, one that focuses on refinement, culture, value and customer service and therefore being a family orientated destination. The interim results this year indicate that the Group is tracking towards another very strong year, which builds upon over US$ 2.750bn cumulative profits from the previous two years.

Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker

Route Adjustments Announced At Qatar Airways

Qatar Airways also has made several changes to its global route network as part of continued expansion efforts.

Chittagong, Juba, Kinshasa, Lyon, Medan, Toulouse, and Trabzon were new routes announced during a March expansion.

In addition, the resumption of 11 further destinations was revealed. These included Beijing, Birmingham, Buenos Aires, Casablanca, Davao, Marrakesh, Nice, Osaka, Phnom Penh, Ras Al-Khaimah, and Tokyo Haneda.