Qatar Airways Group recently celebrated its 25th anniversary in business with its best financial performance reflected in its annual report for 2021/22, 200% above its highest historic annual profit.

Qatar Airways Group posted a record net profit of QAR5.6 billion (USD1.54 billion) in the 2021/22 financial year. Overall revenue increased to QAR52.3 billion ($14.4 billion), up 78% year-on-year and a remarkable 2% increase year-on-year full pre-COVID (i.e. 2019/20).

In the most challenging period in the history of the global airline industry, the airline attributes its positive results to its agility and successful strategy which continued to focus on customer needs and evolving market opportunities. market, as well as the efficiency and commitment of its employees worldwide. This profit is not only a record for Qatar Airways Group but also a record among all other airlines that have published financial results for this fiscal year worldwide.

Passenger revenue increased 210% year-on-year, driven by Qatar Airways’ network growth, increased market share and higher unit revenue, for the second year in a row. Qatar Airways carried 18.5 million passengers, an increase of 218% over last year.

Qatar Airways Cargo remained the world’s largest player, with revenues growing by an impressive 25% year-on-year with cargo capacity (available tonne-kilometres) growing by 25% annually.

The Group generated a solid EBITDA margin of 34% at QAR 17.7 billion (USD 4.9 billion). EBITDA increased by QAR11.8 billion ($3.2 billion) year-on-year thanks to streamlined, agile and responsive operations across all business areas. These record revenues are the result of decisions made during the pandemic to expand Qatar Airways’ passenger and cargo networks, with a more accurate forecast of global market recovery, strengthening customer and merchant loyalty and excellence. products combined with strict cost control.

Despite the challenges of COVID-19, the State of Qatar’s national carrier has expanded to over 140 destinations in 2021/22, opening up new routes including Abidjan, Ivory Coast; Lusaka, Zambia; Harare, Zimbabwe; Almaty, Kazakhstan, and Kano, and Port Harcourt, Nigeria, in addition to resuming flights to key markets across Europe, Africa, the Middle East and Asia. The company continuously operated the largest network among any airline in the Middle East, as measured by number of destinations as well as weekly flights.

Qatar Airways Group Chief Executive, Akbar Al Baker, said: “This year, Qatar Airways Group celebrates a quarter century of history since its relaunch, while maintaining strong performance and growing profitability. we aim to achieve our goals. Our strategic investments in a diverse fleet of modern, fuel-efficient aircraft have helped us overcome significant capacity constraint challenges while balancing business needs as quickly as possible.

Throughout this year, the Qatar Airways Group has maintained a very successful and rich portfolio of regional and global partnerships to champion the brand across the globe, including global sports clubs – Al Sadd SC, Boca Juniors, Brooklyn Nets, FC Bayern München and Paris Saint-Germain, the partnership with the South American Football Confederation (CONMEBOL) and FIFA. The Group also recently released its 2021 Sustainability Report to highlight key initiatives and its commitment to the environment and sustainability.

Amid the pandemic-related disruptions, Qatar Airways Cargo transported over 3 million tonnes of air cargo and secured an 8% share of the global market. Cargo has also transported more than 600 million doses of COVID-19 vaccines during the pandemic to date and has also focused its efforts on improving its renowned pharmaceutical product and its presence in the industry, while guaranteeing its commitment to its groundbreaking WeQare initiative, which consists of a series of positive and impactful actions in the form of chapters based on the fundamental pillars of sustainability – environment, society, economy and culture.

LOADOUT HIGHLIGHTS

1. Serving more than 65 dedicated cargo destinations and more than 140 hold passenger destinations globally, the carrier reflected its strong performance in 2021/2020, operating a maximum of 155 flights per day at its peak in the month of June 2021.
2. With tonnage growth of 272,975 tons of billable weight, Qatar Airways Cargo recorded nearly 10% growth over the same period of the previous year, transporting 3,000,961 tons of air cargo and accounting for a share of 7.99% of the global market from April 1, 2021 to March 31, 2022.
3. Airlines have transported over 600 million doses of COVID-19 vaccines during the pandemic and have bolstered their pharmaceuticals and industry presence with the WeQare initiative.
4. In a significant move towards sustainability, Qatar Airways Cargo continued to expand its fleet of technologically advanced and sustainable cargo aircraft. In January 2022, the air cargo carrier places a $20 billion order for up to 50 Boeing 777-8 freighters, the world’s largest twin-engine freighter.
5. In July, Qatar Airways Cargo became a member of Pharma.Aero as well as the Cool Chain Association.
6. In a move towards digitization, the carrier has become the first to join the IATA CO2NNECT platform by launching a new voluntary carbon offset program under its WeQre sustainability program for air cargo shipments.
7. The year also saw the completion of the third-party electronic reservations platform Freightos WebCargo, providing a real-time pricing and booking platform for customers across Europe, the United States and beyond. of the world between February and August 2021.
8. The carrier has also increased its presence in Central and Eastern Europe with the appointment of a new GSA for Bulgaria, Croatia, the Czech Republic, Hungary, Romania, Serbia, Slovakia and Slovenia and the addition of cargo hold capacity to 140 destinations in fiscal year 21-22. .
9. Qatar Airways Cargo also became the first cargo carrier to adopt Safran Cabin’s new fire-resistant Container FRC solution, after taking delivery of the first batch of containers in September 2021. Over the next five years, the cargo carrier will inject 12,800 FRCs of which 9,000 of them will be received by December 2022, and will replace the 9,500 AKEs or lightweight containers that the airline currently uses.