Qatar Airways Reports USD1.2 Billion in Previous Fiscal Year
Qatar Airways claimed on Thursday that it had earned total profits of USD 1.2 billion in the last financial year, majorly pushed by Qatar’s hosting of the FIFA World Cup, 2022.
Like every other airline within the Gulf Arab nations, Qatar Airways also heavily depends on the location of the country to carry passengers from the West to the East and vice versa. It has generated a revenue of $20.9 billion throughout the year, up from $14.4 billion the previous year.
This figure is a huge contrast compared to the loss of $4.1 billion that it had to incur in the fiscal year 2021 amid the Covid-19 pandemic and the grounding of its flights.
“As the global travel industry continued its recovery from the COVID-19 pandemic, we consolidated our position as the airline of choice for millions of passengers across the globe,”
– Al Baker, CEO of Qatar Airways.
The FIFA World Cup played a major role in pushing the success of Qatar Airways, with FIFA claiming approximately 3.4 million spectators were present inside the stadiums during the tournament.
“Our country’s long-held dream of organizing the FIFA World Cup finally became a reality and Qatar took center stage for hosting the world’s most prestigious sporting event,”
Al Baker added.
“After more than a decade of preparations and hard work, we brought fans from worldwide.”
Meanwhile, in February, Qatar Airways also came out of a long-running bitter legal controversy over Airbus A350, that the airline allegedly had fuselages
“degrading at an accelerated rate”
in the aircraft.
In its annual report, Al Baker applauded the “amicable argument” with Airbus and the delivery of flights from its manufacturers, which
“will enable the airline to address the additional fleet capacity needed to maintain our growth plans.”
Qatar Airways currently has a fleet of 265 flights that fly within 160 destinations globally.
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