Qatar Airways Group has reported the strongest financial performance in its 27-year history, announcing record profits of US$1.7 billion in its Annual Report for the 2023/24 financial year.
The multiple award-winning airline group reported historic net profits of US$1.7 billion during the 2023/24 fiscal, with a total revenue of US$22.2 billion, representing an increase of US$1.3 billion – up 6% compared to last year.
The Group generated a strong EBITDA margin of 24% US$5.2 billion, around US$ 300 million higher than the previous year, reflecting the business’ continued focus on customer experience, innovation, digitalisation and sustainability.
Qatar Airways Cargo and MASkargo Sign Deal for Joint Cargo Business Operations
Minister of State for Energy and Qatar Airways Group Chairman, His Excellency Engr. Saad Bin Sharida Al-Kaabi, said: “This latest remarkable annual performance demonstrates Qatar Airways Group’s flexibility and resilience in successfully navigating a constantly evolving global travel industry, and indicates a strong and sustained rebound from the challenges faced by the sector in recent years.”
Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al-Meer, said: “These very strong financials are a testament to the ambition and clear direction that has informed the Qatar Airways Group’s progress throughout the 2023/24 financial year."
As it celebrates its milestone 20th year of operation in 2024, Qatar Airways Cargo maintained its position as the world’s leading air cargo carrier contributing towards an increase in Cargo’s market share to 7.1% in 2023/24, up by 0.04% compared to previous financial year.
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