Qatar Airways announced record annual revenue, as the company’s finances were strengthened by the FIFA World Cup hosted in Qatar in 2022.
The Qatar Airways Group reported that passenger revenue increased by 100 percent during the fiscal year 2022-23, with overall revenue having increased to QR76.3bn.
The airline carried a total of 31.7 million passengers last year, marking a 71 percent increase in comparison to the previous year.
The World Cup served as a major boost to Qatar’s passenger numbers, as the airline transported 1.4million passengers to the event. The carrier was the official airline of the soccer tournament.
The results are close in heels to other airlines that are seeing a global resurgence as the post-pandemic recovery is in full swing after the turbulence seen in the sector over the past years.
Emirates and Ryanir have announced record profits in May, while easyJet and British Airways have confirmed better profit expectations for the coming year.
Having received a government bailout in September, after Qatar Airways reported annual losses of more than 50 percent of its share capital, the carrier had made huge job slashes and also delayed new aircraft as Covid-19 had brought air travel to a standstill.
Now, investors are awaiting to know how the airline fares in the coming year, particularly, with the launch of its new rival Riyadh Air, debuted in March.
Qatar Airways CEO, Akbar Al Baker, when speaking during the Arabian Travel Market Conference, pointed out that Qatar Airways loves competition, and will be competing just as they have done in the past years.