Qatar Airways cuts its profits by 21% in 2022 | Economy

Qatar Airways achieved a net profit of 4,400 million Qatari riyals (1,113 million euros) during the fiscal year 2022/23 (ending March 30, 2023), 21% less than the previous year due to several unspecified extraordinary profits. the signature. Total revenue grew by 45% to 76.3 billion riyals (19.33 billion euros), after carrying 31.7 million passengers, an increase of 71% thanks to the FIFA World Cup tournament that was held in the emirate and of which Qatar Airways was the official airline.

Revenue per passenger increased 100% thanks to a 31% increase in capacity, driven by 9% higher earnings and an 80% load factor – both the highest in the airline’s history – representing a sustained increase in market share, according to the statement.

The company tripled its total operating profit (Ebitda) to 17,725 million riyals, thanks to improved, flexible and targeted operations in all business areas. “These positive results reflect Qatar Airways’ expansion of passenger and cargo networks, responding to the commitment to increase customer and industry loyalty, as well as the Group’s product excellence, combined with strong cost control,” the group highlighted.

On the other hand, Qatar Executive (QE), the private jet charter services division of Qatar Airways, has seen significant year-on-year growth. This was reflected in a “huge” increase in revenue from commercial sales and total hours flown, in fleet growth, in improvements made to better serve passengers, according to the airline.

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