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3d ago

Qatar Airways Reports Record $2.1 Billion Profit and $96 Billion Boeing Order

The state-owned airline achieved its highest-ever net profit, expanded its fleet, and acquired stakes in two regional carriers as it capitalized on strong global travel demand.

FILE - The first Qatar Airways plane in three years lands at King Khalid Airport in Riyadh, Saudi Arabia, Monday, Jan. 11, 2021.(AP Photo/Amr Nabil, File)
The Qatar Airways logo is pictured at the International Tourism Trade Fair ITB in Berlin, Germany, March 7, 2018/ File Photo

Overview

  • Qatar Airways posted a 28% increase in net profit, reaching 7.8 billion Qatari riyals ($2.1 billion) for its last fiscal year.
  • The airline reported $23.4 billion in revenues, up from $22.1 billion the previous year, and carried 43.1 million passengers, a 7.75% increase year-over-year.
  • It placed a record $96 billion order for 160 Boeing 777X and 787 aircraft, marking the largest widebody deal in Boeing's history.
  • Qatar Airways acquired 25% stakes in Virgin Australia and South Africa-based Airlink to strengthen its global connectivity and passenger network.
  • The airline's full annual report is expected to be published later today, providing further details on its financial performance and strategic initiatives.