Despite all the challenges of operating in the post-COVID environment, not to mention having a number of its most efficient airplanes out of action, Qatar Airways just reported its best year ever. The Group announced today a record annual profit of $1.54 billion, the best in its 25-year history.

Indeed, this figure was some 200% higher than its next-best performing year, showcasing the airline’s efforts to stay money-making even through the worst of the post-pandemic chaos. Qatar Airways puts this strong performance down to its agility, and the successful strategy of maintaining a focus on the needs of its customers.

The airline further notes that its performance in financial year 2021/22 is not only a record for Qatar Airways, but is also the best result reported by any airline worldwide this year. Group Chief Executive, Akbar Al Baker, said,

“This year Qatar Airways Group celebrates a quarter of a century of history since its relaunch, whilst maintaining strong performance and growing profitability. Our commitment to providing the greatest choices to our passengers, maintaining the highest levels of safety in the industry and earning trust have made us proudly become the airline of choice for millions of travellers around the world. We have pursued every business opportunity and left no stone unturned as we aimed to meet our targets.”

Overall, the airline’s revenue was $14.4 billion, up 78% year on year. Passenger revenue increased by 210% on the back of 18.5 million passengers carried over the year.

How did Qatar Airways do so well?

The bullish approach by Qatar Airways has served it well in pandemic times, being the only major Middle East airline not to halt all operations in the early days. The carrier continued to fly, operating cargo flights and critical repatriation services for stranded passengers around the globe.

This buoyant approach to operations has served Qatar Airways well through the early stages of the recovery too. As well as having more passengers flying over the last 12 months, the airline has solidified its position as a leading cargo carrier. Qatar Airways Cargo grew its revenue by 25% over the past year, growing available tonne kilometers by the same measure.

Striving to maximize every opportunity to fly has seen Qatar Airways opening many new routes. In 2021/22, the airline grew its network to more than 140 destinations, adding services to Nigeria, Zimbabwe, Cote d'Ivoire, Zambia, and Kazakhstan. Alongside this, it has resumed flying to important destinations in markets all over the world.

Al Baker added,

“I am extremely proud of the decisions we have made to embrace efficiency and achieve strong cost control across several operational departments whilst engaging in environmental and sustainable initiatives. This has positioned us at the forefront in the field of sustainability, including environmental protection and social commitment.

“Our strategic investments in a varied fleet of modern, fuel- efficient aircraft has helped us overcome the significant challenges related to capacity constraints while balancing commercial needs as swiftly as possible.”

The airline is still investing for the future too. For its private jet subsidiary, Qatar Executive, it signed an order for five new Gulfstream G650ER, and for the cargo arm, up to 50 new Boeing 777-8 freighters. For the passenger airline, the Group signed an MoU for 25 Boeing 737-10s, with options for a further 25. It presently has more than 250 airplanes worth more than $72 billion on order.