Qatar Airways posts 28% jump in net profit to record US$2.1 billion

[DOHA] Qatar Airways posted a 28 per cent jump in annual net profit to a record US$2.1 billion, according to a preliminary statement issued by the airline on Monday (May 19).

“We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events, whether political, economic or environmental,” CEO Badr Mohammed Al-Meer was quoted as saying in a statement from the airline.

The government-owned airline’s revenue and passenger data from the last year were not yet available. The airline’s complete annual report was expected to be published on Monday morning.

In the last year, Qatar Airways, seeking to boost passenger numbers and connectivity, bought a 25 per cent stake in Virgin Australia and a 25 per cent stake in South Africa-based regional carrier Airlink.

The airline placed a firm order last week for 160 Boeing 777X and 787 planes with GE Aerospace engines worth US$96 billion, the largest widebody deal ever for the companies. Qatar Airways has options to buy 50 more of the Boeing jetliners.

The airline’s chief commercial officer Thierry Antinori told Reuters in March that the Qatari airline had seen above-market growth in passenger numbers from April 2024 until January this year, up 9 per cent throughout its network, up 14 per cent in Europe and up 12 per cent in Germany. REUTERS