Qatar Airways sees strongest financial year, profit up 39 percent to $1.7 billion in 2023-2024
Qatar Airways achieved its best financial performance ever in the fiscal year 2023-2024, posting a significant 39 percent increase in net profits to $1.7 billion.
The airline’s total revenue grew by 6 percent to $22.2 billion, with its earnings before interest, taxes, depreciation, and amortization (EBITDA) margin reaching $5.2 billion. This reflects the company’s emphasis on enhancing customer experience, innovation, digitalization, and sustainability.
Passenger traffic surged as Qatar Airways carried over 40 million passengers during the period, marking a 26 percent increase from the previous year. Consequently, passenger revenue rose by 19 percent, supported by a 21 percent increase in capacity due to the airline achieving its highest-ever load factor of 83 percent.
Qatar Airways Cargo, celebrating its 20th year, continued to lead globally, focusing on digitalization and sustainability. Its market share grew to 7.1 percent in 2023-2024, up by 0.04 percent from the previous year.
The airline expanded its network to over 170 destinations, including new routes to Al Ula, Neom, and Tabuk in Saudi Arabia; Lyon and Toulouse in France; Medan in Indonesia; and Trabzon in Turkey. It also resumed operations to 14 destinations, reinforcing its position as a leader in the global aviation industry.
