(20 June 2022, 10:30 +07)
Qatar Airways Group reported its strongest ever financial
performance in its annual report for 2021/22,
200% above its highest annual historical profit.
The Group reported a record net profit
of QAR 5.6 billion (US$ 1.54 billion) during the fiscal year
2021/22. Overall revenue increased to QAR 52.3 billion (US$ 14.4
billion), up 78% compared to last year and a remarkable
2% higher than the full financial year pre-COVID19 (2019/20).
Passenger revenue increased by 210% on the
previous year, due to the growth of the Qatar Airways network,
increase in market share and higher unit revenue, for the second
financial year in a row. Qatar Airways carried 18.5 million
passengers, an increase of 218% on 2021.
Qatar Airways Boeing 787-8 reg: A7-BCN. Picture by Steven Howard of TravelNewsAsia.com
Qatar Airways Cargo's revenue increased 25% on last year, with the growth in cargo capacity
(Available Tonne Kilometres) of 25% annually.
The Group generated strong EBITDA Margin of 34% at QAR 17.7 billion (US$ 4.9 billion). EBITDA was higher than
the previous year by QAR 11.8 billion (US$ 3.2 billion) due to
streamlined, agile and fit-for-purpose operations across all
business areas.
Despite the challenges of COVID19, the national
carrier of the State of Qatar grew to more than 140 destinations
in 2021/22, opening new routes including Abidjan, Côte d’Ivoire;
Lusaka, Zambia; Harare, Zimbabwe; Almaty, Kazakhstan and Kano and
Port Harcourt, Nigeria in addition to resuming flights to key
markets across Europe, Africa, the Middle East and Asia.
“This year Qatar Airways
Group celebrates a quarter of a century of history since its relaunch, whilst maintaining strong performance and growing
profitability. Our commitment to providing the greatest choices to
our passengers, maintaining the highest levels of safety in the
industry and earning trust have made us proudly become the airline
of choice for millions of travellers around the world. We have
pursued every business opportunity and left no stone unturned as
we aimed to meet our targets,” said Akbar Al Baker, Qatar Airways
Group Chief Executive. “In 2021, we grew significantly to become
the world’s largest global long-haul carrier in 2021 by RPKs ... I am extremely proud of the decisions we have
made to embrace efficiency and achieve strong cost control across
several operational departments whilst engaging in environmental
and sustainable initiatives. This has positioned us at the
forefront in the field of sustainability, including environmental
protection and social commitment. Our strategic investments in a
varied fleet of modern, fuel-efficient aircraft has helped us
overcome the significant challenges related to capacity
constraints while balancing commercial needs as swiftly as
possible.”
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