Qatar Airways reveals historical profit win
Qatar Airways has made a record-breaking profit while also revealing it put in the largest aircraft order in its history with Boeing.
Qatar Airways Group has achieved a record-breaking financial result for the fiscal year with the carrier making $A3.35 billion – up $A780 million from last year.
It marks the strongest financial result in its history that includes cargo, catering and Qatar Duty Free.
According to a statement released on Tuesday, its cargo division recorded a huge 17 per cent growth in revenue, achieving the best financial results since the Covid period.
It attributed the success to adapting to shifting market conditions and investing in digitalisation.
“These record-breaking results are a testament to the hard work, skill and dedication of teams across all of Qatar Airways Group,” Qatar Airways Group chief executive officer, engineer, Badr Mohammed Al-Meer, said.
Mr Al-Meer thanked the more than 55,000 employees across its global network around the world, adding that fostering talent has been a core focus of its Qatar Airways 2.0 strategy.
“We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events, whether political, economic or environmental,” he said.
“All of this means we continue to offer and develop exceptional service in the skies, whether it’s the award-winning Qsuite, fine dining, or super-fast complimentary Starlink internet connectivity for all passengers.”
It comes as the Middle-Eastern based airline joined forces with Virgin Australia giving the carriers the green light to double the number of flights between Doha and Australian airports over the next five years.
The Aussie carrier has largely been out of the international market for four and a half years, but since partnering with Qatar Airways, it will now crack the Middle Eastern and European markets operating an additional 28 flights a week to Doha on behalf of the Australian carrier.
Qatar Airways has a minority 25 per cent stake in Virgin Australia with long-haul flights to Doha commencing from June 1.
The deal means Virgin can lease planes and staff from the Qatari airline and compete on the route.
Virgin Australia CEO Jayne Hrdlicka told news.com.au the move will strengthen the local aviation industry.
“It brings deeper resilience to Virgin Australia, it brings a tougher competitive edge to Virgin Australia and that’s nothing but great for consumers,” she said.
“It also means Australians have greater choices, and better choices with respect to travelling long-haul to Europe through the Middle East and into Africa.
“We’re really excited about the opportunity that better competition is going to create for consumers.”
Velocity Frequent Flyer members who book flights between Sydney, Brisbane, and Perth to Doha between June 12 and December 10, 2025, will have access to even more rewards seats.
Meanwhile, earlier this month Qatar Airways revealed it had another huge win after it placed the largest aircraft order in its history with manufacturing partner Boeing [NYSE: BA].
As part of its strategic fleet growth plan, the landmark order includes up to 210 Boeing widebody jets – 160 firm and 50 option – which is the largest widebody order and the largest 787 Dreamliner order in the American aerospace company’s history.
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