Qatar Airways Group reported a record profit of $1.7bn for the 2023/24 financial year, up from $1.21bn a year prior. Its total revenue reached $22.2bn up 6%, or $1.3bn, year-on-year.
It generated a strong EBITDA margin of 24% at $5.2bn, approximately $0.3bn higher than the previous year.
Qatar Airways Group CEO Mohammed Al-Meer commented on the results: ""These very strong financials are a testament to the ambition and clear direction that has informed the Qatar Airways Group’s progress throughout the 2023/24 financial year.""
""This latest remarkable annual performance demonstrates Qatar Airways Group’s flexibility and resilience in successfully navigating a constantly evolving global travel industry, and indicates a strong and sustained rebound from the challenges faced by the sector in recent years,"" Qatar Airways Group chairman and minister of state for energy Saad Bin Sharida Al-Kaabi.
In addition, it carried over 40 million passengers during the fiscal year, totalling a 26% YoY increase. As a result, its passenger revenue increased 19% YoY. Furthermore, its capacity increased 21% YoY, driven by a record load factor of 83%.
Qatar Airways annual profits soar to record highs
