Qatar Airways Group achieved a net profit of 4.4 billion riyals (1.21 billion US dollars) during the fiscal year 2022/23. Total revenues increased to 76.3 billion riyals (21.0 billion US dollars), an increase of 45 percent compared to fiscal year 2022/23. Passenger revenue also increased by 100 percent over the past year, as a result of capacity increases by 31 percent, recording higher revenues by 9 percent, and the seat load factor increased by 80 percent – both of which are the highest in the history of the Qatari carrier – which led to the growth and increase of its market share. Qatar Airways also carried more than 31.7 million passengers, an increase of 71 percent compared to the previous fiscal year.
His Excellency Mr. Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs and Chairman of the Board of Directors of Qatar Airways Group, confirmed that the group showed an outstanding and exceptional annual performance during this year. The transportation sector in Qatar is essential for its pivotal contribution in bringing people together from all over the world and increasing trade relations across the region. The State of Qatar is also proud of hosting more than a million fans from all over the world during the FIFA World Cup Qatar 2022™, as the country presented an exceptional version of the World Cup tournament and set an unparalleled standard in terms of tournament security and safety, and also became a favorite tourist destination for families.
For his part, His Excellency Mr. Akbar Al Baker, CEO of Qatar Airways Group, said: “These impressive financial results are a clear indication of the recovery of the aviation sector and the increase in demand for travel. Our global network of destinations and our leadership in the global aviation sector. I am pleased to announce that passenger revenue grew 100 percent during fiscal year 2022/23 in addition to an 80 percent increase in seat factor, the highest in our history. As the global travel sector continues to recover from the Covid-19 pandemic, the Qatari carrier has maintained the highest levels of trust and credibility and its world-leading position as the airline of choice for millions of travelers around the world, as Qatar Airways carried more than 31.7 million passengers, an increase of 71 percent from last year. .»
The relentless focus on customer experience, digitization and sustainability has positioned Qatar Airways as a frontrunner for the future. Privilege Club, Qatar Airways’ loyalty programme, has also seen significant growth with many new global and local partnerships, enhanced offerings and adoption of Avios as its currency. Honorable members can now benefit from collecting Avios or using them in Qatar Duty Free, Discover Qatar and Qatar Holidays, in addition to a wide range of leading international brands.
Qatar Airways Cargo maintained its leading position in the world during the fiscal year 2022/23, despite the ongoing market challenges. The Qatari carrier has relied on strategic plans that focus on growth, sustainability and digitization.
