Qatar Airways Reports Record Profits Following Successful World Cup Tournament
Doha, Qatar –
Qatar Airways has announced its highest ever profits for the financial year coinciding with the highly anticipated World Cup football tournament. The official airline partner and football sponsor of the prestigious event, Qatar’s national airline has not only achieved great international success but has also seen a surge in revenue and profit volume, as revealed in its latest financial report for the 2022-23 fiscal year.
During this period, Qatar Airways recorded a staggering profit of 440 crore Rials, while its gross income witnessed a remarkable 45 percent increase, soaring to an impressive 7630 crore Riyals compared to the previous year. Furthermore, the airline experienced substantial growth in revenue from passengers, which doubled, and a substantial rise of 31 percent in the number of services and seats offered. Notably, last year marked a significant milestone for Qatar Airways as it reached a commendable 80 percent full capacity for the first time in its history.
The airline’s market share has also seen a substantial increase, with a remarkable 71 percent surge in the number of passengers transported across various sectors, totaling over 3.17 crore. This success can be attributed to Qatar Airways’ commitment to delivering exceptional customer experiences and its focus on innovative loyalty programs, digitalization, sustainability, and the Privilege Club, positioning the airline as a formidable presence in the aviation sector.
Qatar Airways’ commendable performance extends beyond passenger flights, as its cargo segment has solidified its role as a vital player in international cargo movement. Serving as the main air carrier for spectators attending the recently concluded football World Cup held in November and December, Qatar Airways facilitated the transportation of an astounding 14 lakh spectators from all corners of the globe. Collaborating with Gulf airlines, the carrier operated an additional 14,000 services during the event, allowing for the seamless travel of around 24 lakh passengers from six continents.
Participating in the World Cup has afforded Qatar Airways international recognition and enhanced its presence on social media platforms. Currently servicing more than 160 cities worldwide, the airline has further expanded its reach by recently launching services in 13 new destinations, including Amritsar and Nagpur in India, and Qasim in Saudi Arabia.
Moreover, with the culmination of Phase B renovations at Hamad Airport, which commenced in January, both its capacity and travel facilities are set to be significantly enhanced, creating even more extensive options for Qatar Airways passengers.
In recognition of its exceptional service and commitment to excellence, Qatar Airways has received numerous accolades from reputable industry organizations such as Skytrax. Most recently, the airline was honored with the prestigious Best Airline Service award, while Hamad Airport secured top honors for Best Airport and Best Airport Shopping.
Alongside its involvement in international sports championships and tournaments, Qatar Airways proudly sponsors renowned sporting teams and organizations, including the Global Airline Partner of the Formula One Championship, United Rugby Championship, European Professional Club Rugby, IPL Team Bengaluru Royal Challengers, French Super Club PSG, German Club Bayern Munich, Al Sadd, Qatar National Football Team, and the Swans, amongst others.
As Qatar Airways continues to soar to new heights, its unwavering commitment to excellence, remarkable financial performance, and dedication to enhancing the customer experience solidify its position as one of the world’s leading airlines.
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Doha: Qatar Airways posted record profits during the financial year that witnessed the World Cup football tournament. Qatar Airways has flashed record gains in revenue and profit volume as it published its report for the 2022-23 financial year.
As the official airline partner and football sponsor of the World Cup, Qatar’s national airline has also achieved great international success in a busy year.
In the financial year 2022-23, the profit was recorded as 440 crore Rials. The gross income increased by 45 percent to 7630 crore Riyals compared to last year. Compared to previous years, the increase in income from various sectors is expressed.
Revenue from passengers increased by 100 per cent, while the number of services and seats increased by 31 per cent. Last year, for the first time in the history of Qatar Airways, 80 percent of the seats were full.
The report also notes that there has been a significant increase in market share. During the financial year, 3.17 crore passengers were transported on the journey to various sectors. This increase is more than 71 percent compared to last year.
Services with an emphasis on customer experience, loyalty programs, digitalisation, sustainability and the Privilege Club have been instrumental in making Qatar Airways one of the strongest presences in the aviation sector.
Apart from passenger flights, the cargo segment of Qatar Airways has also come into prominence as it plays a vital role in international cargo movement. Qatar Airways, the national airline, was also the main air carrier for spectators from different parts of the world to reach Qatar during the football World Cup held in the months of November and December.
14 lakh spectators came to Qatar for the World Cup. Additional services connecting to different countries and shuttle services were operated in collaboration with Gulf airlines during the World Cup. 14,000 services were performed during the World Cup. It was carrying around 24 lakh passengers from six continents.
By participating in the World Cup, it has become an internationally known brand and increased its support in social media. Currently, Airways operates direct services to more than 160 cities in different countries. It recently started operating in 13 new centers including Amritsar and Nagpur in India and Qasim in Saudi Arabia.
With the completion of the phase ‘B’ renovation works at Hamad Airport, which began last January, the airport’s capacity will increase and Qatar Airways’ travel facilities will be more extensive.
Most recently, Qatar Airways also received a number of awards for Best Airline Service from Skytrax. Qatar Airways and Hamad Airport won awards in various categories such as Best Airport and Best Airport Shopping. Apart from this, Qatar Airways has also been active in sponsoring international sports championships and tournaments.
Global Airline Partner Formula One Championship, United Rugby Championship, European Professional Club Rugby, IPL Team Bengaluru Royal Challengers, French Super Club PSG, German Club Bayern Munich, Al Sadd, Qatar National Football Team, Sydney Qatar Airways is among the sponsorship for clubs like the Swans.
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