Qatar Airways Group Reports Record-Breaking Net Profit of US$1.7 Billion for 2023/24

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% at US$5.2 billion, around US$0.3 billion higher than the previous year.

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.

“Our continued focus on profitability, efficiency and customer experience have been underpinned by a strategic programme of network growth and fleet expansion, resulting in the highest revenues and profit margins in the history of the airline.

“This incredible achievement is in no small part thanks to the collective endeavour of the entire Qatar Airways Group family who have worked tirelessly to achieve such stellar results. We must now use this as a foundation on which to build our continued success.”