Qatar Airways posts record profit of $2.1 billion in 2024 fiscal year

Qatar Airways has announced a 28 per cent surge in net profit for the 2024 fiscal year, which concluded in March, achieving a record 7.8 billion riyals ($2.1 billion), according to the airline’s financial report.

The state-owned airline also saw a 6 per cent increase in revenue, reaching 86 billion riyals ($22 billion). This growth was largely driven by strong performance in passenger traffic and the expansion of its operational capacities, Caliber.Az reports via Russian media.

In terms of passenger numbers, Qatar Airways carried over 43 million people, reflecting a 7.8 per cent increase compared to the previous year. The airline's overall capacity expanded by 4 per cent, further supporting its strong financial results. Looking forward, the airline remains optimistic about the future of the aviation industry, predicting continued strong demand for air travel, driven by the recovery in global markets post-pandemic.

In addition to solidifying its core operations, Qatar Airways made strategic investments by acquiring a 25 per cent stake in Virgin Australia and a similar stake in South African carrier Airlink.

By Naila Huseynova