Qatar Airways announced in a statement that it earned net profits of $ 1.54 billion in 2021-2022, which is 200 percent higher than the carrier’s previous highest annual profit.
According to the statement, total revenues increased to 52.3 billion Qatari riyals ($14.4 billion), a 78 percent increase over the previous fiscal year and a 2 percent increase over levels achieved prior to the spread of the Covid-19 pandemic.
The company confirmed that passenger revenues “grew by 210 percent during the previous fiscal year, thanks to the expansion of the Qatar carrier’s network of destinations, increase in market share, and revenue growth.” It noted that it carried 18.5 million passengers, “an increase of 218 percent compared to the previous fiscal year.”
Qatar Airways Cargo’s revenues grew 25 percent over last year with a growth in cargo capacity (Available Tonne Kilometres) of 25 percent annually.
Furthermore, the Group generated strong Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 34 percent at 17.7 billion riyals ($ 4.9 billion). EBITDA was higher than the previous year by 11.8 billion riyals ($3.2 billion) due to streamlined, agile, and fit-for-purpose operations across all business areas.
