Qatar Airways Cargo, the airline’s freight division reported a record revenue of $6.3 billion for the year ended March 31, 2022, an increase of 25 percent, on almost 10 percent growth in freight carried (272,975 tonnes) at over 3 million tonnes.
Qatar Airways Group also reported its highest net profit in its 25-year history by reporting a record net profit of QAR 5.6 billion (USD 1.54 billion) during the fiscal year 2021/22. The overall revenue increased to QAR 52.3 billion (USD 14.4 billion), up 78 percent compared to last year and a remarkable two percent higher than the full financial year pre-COVID (i.e., 2019/20).
Qatar Airways Cargo remained the leading player in the world as its revenue experienced an impressive growth of 25 percent over last year with a growth in cargo capacity (Available Tonne Kilometres) of 25 percent annually.
The Group generated a strong EBITDA margin of 34 percent at QAR 17.7 billion (USD 4.9 billion). EBITDA was higher than the previous year by QAR 11.8 billion (USD 3.2 billion) due to streamlined, agile, and fit-for-purpose operations across all business areas. These record earnings are the result of decisions made during the pandemic to expand the Qatar Airways’ passenger and cargo networks, with a more accurate forecast of the global market recovery, building further customer and trade loyalty and product excellence combined with strong cost control.
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