Qatar Airways has announced a record-breaking 28% increase in annual net profit, reaching $2.1 billion for the 2024 financial year ended March 31. This impressive growth is attributed to the airline’s strategic efforts to strengthen its global presence, optimize its fleet, and form key partnerships amid evolving market conditions.
CEO’s Perspective
“Our best year commercially in the airline’s history was 2024, and we fully expect demand in 2025 to remain as strong,” said CEO Badr Mohammed Al-Meer. The airline’s strategic partnerships and investments have enabled it to remain agile in the face of ever-shifting world events, whether political, economic, or environmental .
The prospect of advancing;
With its strong performance and strategic investments, Qatar Airways is well-positioned to continue its growth trajectory, driven by increasing demand and a robust network of partnerships. The airline’s focus on efficiency, sustainability, and passenger experience will likely remain key drivers of its success in the years to come.
Key Highlights of Qatar Airways’ Performance
- Revenue Growth:
- Revenue and other operating income rose over 6% to $23.6 billion (86 billion riyals) for the 12 months ended March 31.
- Passenger Traffic:
- The airline carried just over 43 million passengers over the year, up 7.8% year-on-year, with a 9% increase in passenger traffic across its network between April 2024 and January 2025.
- Network Capacity:
- Network capacity grew by 4% compared to the previous financial year, with above-market growth in passenger numbers driven by strong demand from the Gulf region.
Strategic Investments and Partnerships
- Virgin Australia Stake:
- Qatar Airways acquired a 25% stake in Virgin Australia, extending its global footprint across the Asia-Pacific region.
- Airlink Investment: The airline also acquired a 25% stake in South Africa-based regional carrier Airlink, bolstering its presence in the African market.
- Boeing Deal: Qatar Airways placed a record-breaking order for 160 Boeing 777X and 787 planes with GE Aerospace engines worth $96 billion, solidifying its commitment to fleet expansion and modernization .
