Qatar Airways Soars to $1 Billion Half-Year Profit

Qatar CEO Akbar Al Baker Photo: Andreas Spaeth.

The Group’s EBITDA margin of 26.9% for the first six months of the fiscal year 2023/2024 improved compared to the same period last year 2022/2023 by 4.9 percentage points at QAR 10.779 billion (US$ 2.960 billion). EBITDA was higher than in the same period last year 2022/2023 by QAR 2.641 million (US$ 0.725 million).

In early March the company announced several new routes including Chittagong, Juba, Kinshasa, Lyon, Medan, Toulouse, and Trabzon, most of which services have commenced to date. Qatar Airways also announced resumptions to 11 destinations: Beijing, Birmingham, Buenos Aires, Casablanca, Davao, Marrakesh, Nice, Osaka, Phnom Penh, Ras Al-Khaimah, and Tokyo Haneda. Up to 10 new destinations have been identified additionally for 2024.

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Qatar Airways Group has reported a solid financial performance for the first half of 2023/2024 of a net profit of QAR 3.736 billion (US$ 1.026 billion) which is an increase of 113.8% compared to the same period last year 2022/2023.

The Group’s total revenue increased to QAR 40.126 billion (US$ 11.019 billion), up 7.4% compared to the same period last year 2022/2023. Passenger revenues rose 28.5% over the last year with increased load factors of 83.3% generating higher yields of 3.6%.

The return to service of the majority of the airline’s A350 fleet is nearly complete and has contributed to an read more ⇒

Source:: AirlineRatings.Com

Qatar Airways Soars to $1 Billion Half-Year Profit

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