Qatar Airways Group has marked a new milestone in its history with a strong financial performance in the fiscal year 2022/23. The achievement is credited to its effective strategy centered on customer experience, as well as the unwavering commitment of its global personnel.
This fiscal year has seen an impressive net profit of QAR 4.4 billion (US$ 1.21 billion) for the group. Total revenue saw a leap of 45% compared to the previous year, reaching QAR 76.3 billion (US$ 21.0 billion). Passenger revenues too took a significant leap, doubling compared to the previous year. This growth was backed by a 31% increase in capacity, 9% higher yields and a record load factor of 80%. All in all, the airline carried 31.7 million passengers, marking an increase of 71% from the previous year.
Qatar Airways’ Privilege Club loyalty program did not lag behind in growth, as it formed new alliances both locally and globally. The adoption of Avios as its loyalty currency backed this growth, allowing Privilege Club members to use Avios for making payments in a variety of associations, including Qatar Duty Free, Discover Qatar, and Qatar Holidays.
Qatar Airways’ cargo airline too upheld its global leadership in air freight transport during the 2022/23 fiscal year, supporting global trade despite the pandemic challenges.
Operationally, the airline reported a solid EBITDA margin of 23%, equivalent to QAR 17.8 billion (US$ 4.9 billion). This strong performance reflects the expansion of the airline’s passenger and cargo networks, as well as its commitment to customer service excellence and effective cost control.
As Qatar’s national airline, Qatar Airways played a crucial role in the FIFA World Cup 2022™, transporting 1.4 million passengers to the event. In addition, Qatar Airways’ network expanded to more than 160 destinations in the year 2022/23, including the resumption of operations to thirteen destinations and the launch of two new routes to Dusseldorf, Germany, and Santorini, Greece.
Amid the action of the FIFA World Cup Qatar 2022™, the group brought over 2.4 million football fans from around the world to Qatar. Being strategically located within a six-hour flight radius for more than 80% of the world’s population, Hamad International Airport (HIA) was an ideal transit point for these football fans. The airport, ranked as the second-best airport in the world at the 2023 Skytrax awards, started its expansion in January 2023, increasing its capacity to 70 million passengers annually.
Moreover, the airline’s private jet division, Qatar Executive (QE), experienced significant growth in its operations and commercial sales. QE’s fleet, like its Premium Terminal in Doha, saw a record number of arrivals and departures.
Lastly, Discover Qatar (DQ), the group’s tourism arm, provided a range of unique experiences for visitors during the FIFA World Cup Qatar 2022™. Throughout the year, DQ focused on enhancing its customer service offerings, helping Qatar Airways further solidify its position as a leading brand in the aviation industry.
