Europe financial news

Qatar Airways posts file revenue regardless of pandemic

Qatar Airways Group has reported record-breaking income that exceed pre-pandemic earnings, the airline introduced on Thursday. 

The airline posted a web revenue of QAR 5.6 billion (€1.45 billion) for the 2021-22 fiscal 12 months. General income elevated to QAR 52.3 billion (€13.6 billion), up 78 per cent in comparison with the earlier monetary 12 months and two per cent larger than pre-pandemic income (2019-20 fiscal 12 months).

The airline reportedly carried 18.5 million passengers, a rise of 218 per cent over the earlier 12 months, and reported passenger income will increase of 210 per cent year-over-year. Income from Qatar Airways Cargo additionally grew by 25 per cent.

In response to Qatar Airways Group, its 2021-22 revenue shouldn’t be solely a file for the provider, which has been in operation for 25 years, however for all different airways which have revealed monetary outcomes for the 2021-22 fiscal 12 months. 

The Group attributed its file earnings to ‘streamlined, agile and fit-for-purpose operations’ in the course of the pandemic and investments in a contemporary, fuel-efficient fleet. 

A number of journey managers BTN Europe spoke with in the course of the pandemic praised the airline for retaining a lot of its community the place different airways have been fast to chop providers.

In addition to resuming flights to key markets throughout Europe, Africa, the Center East and Asia, the Qatar nationwide provider additionally expanded its passenger and cargo networks over the past 12 months, together with establishing new routes to Abidjan, Côte d’Ivoire; Lusaka, Zambia; Harare, Zimbabwe; Almaty, Kazakhstan and Kano and Port Harcourt in Nigeria. 

Qatar Airways Group chief govt, Akbar Al Baker, mentioned: “I’m extraordinarily happy with the choices we have now made to embrace effectivity and obtain sturdy value management throughout a number of operational departments while partaking in environmental and sustainable initiatives… Our strategic investments in a assorted fleet of recent, fuel-efficient plane has helped us overcome the numerous challenges associated to capability constraints whereas balancing business wants as swiftly as potential.”

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