Qatar Airways Group said its ‘strong’ financial performance for 2022-23 was in part thanks to being the official airline of the Fifa World Cup Qatar 2022.
The group reported a net profit of QAR 4.4 billion ($1.21 billion) during the fiscal year 2022-23. Overall revenue increased to QAR 76.3 billion ($21 billion), up 45% compared to last year.
Qatar Airways carried 31.7 million passengers, an increase of 71% year on year.
It carried 1.4 million passengers to the World Cup last December and expanded its network to more than 160 destinations in 2022-23 – and resumed operations to 13 destinations including Gatwick.
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Group chairman Saad Bin Sharida Al-Kaabi said: “I am delighted to announce that Qatar Airways Group has demonstrated another remarkable annual performance.
“Qatar is proud to have hosted fans from around the world during the Fifa World Cup Qatar 2022, delivering one of the best Fifa World Cups in history. Qatar has set an unparalleled benchmark for tournament security and safety, creating a family-friendly destination of choice.”
Group chief executive Akbar Al Baker added: “This year’s strong financial results are attributed to the strong passenger demand recovery and the team’s ability to cater to this demand, aided by our continuing network growth, market leadership, and the operational efficiencies delivered by our world beating team.
“Profitability has been driven by a 100% increase in passenger revenues in the last year. Load factors exceeding 80% and the current yield levels are the highest in our history.”
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