State-owned Qatar Airways Group posted an annual net profit of $2.15 billion on Monday, making the 2024-25 fiscal year its strongest ever.
Profits grew by 28% over the prior year, the airline said, mainly due to continued strong demand from travelers and investments in digitization and data analysis that have begun to pay off. The carrier’s cargo division, Qatar Airways Cargo, saw revenue climb by 17%, contributing to its best overall year since the COVID-19 pandemic.
Qatar Airways’s fiscal year ends on March 31.
In a statement, CEO Badr Mohammed Al-Meer said the airline has taken a number of steps to protect itself against possible volatility linked to disruptions in global trade, including diversifying its holdings and forming strategic partnerships throughout the commercial aviation, cargo-handling, and hospitality industries.
Historic Deal
Outside of commercial flights and cargo, Qatar Airways Group operates an in-flight catering service, oversees facilities management at its home base at Hamad International Airport in Doha, and runs duty-free stores, restaurants, and hotels in Qatar.
In the last fiscal year, Qatar Airways acquired a 25% stake in Virgin Australia and a 25% stake in South African regional airline Airlink. It also completed an expansion at Hamad that added 17 new aircraft gates.
The airline was in the news last week after placing an order for 160 Boeing twin-aisle jets, with options to acquire 50 more. The order is the largest ever for widebody Boeing aircraft and the biggest in Qatar Airways’ history. The airline also placed orders for 400 aircraft engines from GE Aerospace.
