Qatar Airways Reports Record $2.1 Billion Profit, Up 28%

DOHA: According to a preliminary statement released by the airline on Monday, Qatar Airways experienced a 28 per cent increase in annual net profit, reaching a record 7.8 billion Qatari riyals ($2.1 billion). "CEO Badr Mohammed Al-Meer stated in a release from the airline that the Group has effectively formed strategic partnerships across the industry to stay flexible amid constantly changing global events, be they political, economic, or environmental."

The revenue and passenger statistics from the previous year for the government-owned airline were not yet accessible. The airline's full yearly report was anticipated to be released on Monday morning. In the past year, Qatar Airways, aiming to enhance passenger traffic and connectivity, acquired a 25 per cent share in Virgin Australia and a 25 per cent share in the South Africa-based regional airline Airlink. 

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Last week, the airline confirmed a solid order for 160 Boeing 777X and 787 aircraft equipped with GE Aerospace engines, totalling $96 billion, marking the largest widebody agreement in history for the companies. Qatar Airways holds the option to purchase an additional 50 Boeing jetliners. In March, the airline's Chief Commercial Officer, Thierry Antinori, mentioned to Reuters that the Qatari airline experienced growth in passenger numbers exceeding the market average from April 2024 to January this year, rising 9 per cent across its network, 14 per cent in Europe, and 12 per cent in Germany.