Qatar Airways profits for the fiscal year reached 7.85bn Qatari riyals ($2.15bn), marking an approximate 1.7bn riyal ($0.5bn) increase on the prior fiscal year.
The company's operating profit totalled 14.7bn riyals ($4bn), up from 13.4bn riyals ($3.6bn). The airline's EBITDA result totalled 18bn riyals ($4.9bn), up from 16.7bn riyals ($4.5bn), while its EBITDA margin was up 0.2 percentage points to 20.9%.
Revenues for the group totalled 86bn riyals ($23.2bn), up from 81bn riyals ($21.9bn). This consisted of 60.7bn riyals ($16.4bn) in passenger revenues, as well as 17.9bn riyals ($4.8bn) in revenue from its cargo operations.
Operating expenses climbed from 67.6bn riyals ($18.2bn) to 71.4bn riyals ($19.3bn) for the fiscal period.
The company noted in its earnings report it acquired a 25% interest in Virgin Australia in March 2025, which received regulatory approval in late February. Qatar said the investment amounted to 1.9bn riyals ($513 million).
“We have also successfully implemented strategic partnerships throughout the industry, in order for the group to remain agile in the face of ever-shifting world events,” said Qatar Airways Group CEO Badr Mohammed Al-Meer.
“At the acquisition date, Virgin Australia reported negative net assets, primarily due to accumulated losses from prior years, including the economic downturn experienced during the pandemic,” Qatar read in its report. “As a result, a substantial portion of the purchase price is expected to be allocated to goodwill and identifiable intangible assets following a full purchase price allocation exercise, which is currently in process.”
The company said, based on Virgin's expected financial recovery, “no impairment indicators have been identified at this stage”. The company said the intangible assets may include airport slots, frequent flyer programmes, and “customer relationships".
“The full fair value assessment and allocation of purchase consideration to specific net assets and intangibles will be finalised within the next fiscal year,” the company's report read.
As part of the collaboration, Virgin Australia will operate 28 weekly flights between Australia and Doha.
The group had also acquired a 25% stake in South African regional airline Airlink during the fiscal year.
During the fiscal year, Qatar's network capacity increased 3.5% compared to the prior year, with increased frequencies to 48 markets. The company carried 43.1 million passengers during the fiscal year, up from 40 million a year prior. In addition, the company closed the fiscal year with 292 aircraft in its fleet, up from 284 aircraft at the end of the previous fiscal year.
As of the end of the fiscal period, the company held 42.4bn riyals ($11.45bn) in cash and cash equivalents and its net debt was 64.4bn riyals ($17.4bn).