Starfish Travel Corporation

World's Capital for Visa Services and Documentation

As its expansion programme continues, Qatar Airways Group achieves record sales and solid earnings

The Official Airline Partner of FIFA World Cup Qatar 2022, Qatar Airways Group, has once again declared a solid financial performance in its annual report for 2022–2023 that was just published. The airline attributes its successful strategy, which was implemented during a remarkable year for the Group as FIFA’s Official Partner and Official Airline of the FIFA World Cup Qatar 2022TM, as well as its premium product, which is focused on delivering a world-class customer experience, and the dedication of its global workforce.

During the fiscal year 2022–2023, Qatar Airways Group declared a net profit of QAR 4.4 billion (US$ 1.21 billion). QAR 76.3 billion ($21.0 billion) was the overall revenue growth, a 45 percent rise over the previous year. Passenger revenue climbed by 100% over the previous year on an increase in capacity of 31%, driven by yield increases of 9% and load factors of 80%, both records for the airline, leading to a steady growth in market share. 31.7 million passengers were carried by Qatar Airways, an increase of 71% from the previous year. Qatar Airways is well-positioned for the future thanks to its continuing focus on customer experience, loyalty, digitalization, and sustainability.

The Qatar Airways reward programme Privilege Club also experienced considerable growth in a number of new local and international partnerships, an improved offering, and revenues bolstered by the use of Avios as its currency. In addition to the current list of top international companies, Privilege Club members can now access Qatar Airways Group using the Avios currency for payment in Qatar Duty Free, Discover Qatar, and Qatar Holidays.

Throughout the 2022–2023 fiscal year, Qatar Airways Cargo remained the top air cargo carrier in the world, pushing forward with a strategic emphasis on growth, sustainability, and digitalization while continuing to support the continuity of international trade despite persistent market problems.

At QAR 17.8 billion (US$ 4.9 billion), the Group produced a solid EBITDA Margin of 23%. EBITDA increased by QAR 110 million (US$ 30.2 million) over the prior year as a result of efficient, adaptable, and fit-for-purpose company operations in every sector. The growth of Qatar Airways’ passenger and cargo networks is reflected in its positive earnings, which also meet the airline’s objective to enhancing trade and customer loyalty through the delivery of superior products and strict cost management.

The FIFA World Cup Qatar 2022TM, the State of Qatar’s national airline, demonstrated to the world its quick responsiveness by carrying 1.4 million passengers to the wildly successful event on its network. In 2022–2023, the network of Qatar Airways expanded to more than 160 locations. Amritsar, India; Beijing, China; Denpasar, Indonesia; Geneva; London Gatwick; Luxor, Egypt; Nagpur, India; Perth; Qassim; Sarajevo, Bosnia and Herzegovina; Shanghai; Taif; and Windhoek, Namibia are among the thirteen destinations to which Qatar Airways has resumed service. Additionally, the airline added two new flights in 2022–2023 to Dusseldorf, Germany, and Santorini, Greece, giving its customers more options for travel and better connectivity.

“I am pleased to announce that Qatar Airways Group has demonstrated another remarkable annual performance,” said Saad Bin Sharida Al-Kaabi, Minister of State for Energy and Chairman of Qatar Airways Group. The transport industry in Qatar serves as a symbol of the country’s global connectivity, bringing people together from all over the world and fostering stronger economic ties in the area. The FIFA World Cup Qatar 2022TM was one of the best FIFA World Cups ever, and Qatar is happy to have welcomed supporters from all over the world. Qatar has established a record-breaking standard for tournament security and safety, making it a popular vacation spot for families.

Source- Travel daily

Leave a Comment

Your email address will not be published. Required fields are marked *