{"id":238481,"date":"2024-07-04T06:15:00","date_gmt":"2024-07-03T23:15:00","guid":{"rendered":"https:\/\/www.ttrweekly.com\/site\/?p=238481"},"modified":"2024-07-03T22:06:34","modified_gmt":"2024-07-03T15:06:34","slug":"qatars-fiscal-performance-hits-27-year-high","status":"publish","type":"post","link":"https:\/\/www.ttrweekly.com\/site\/2024\/07\/qatars-fiscal-performance-hits-27-year-high\/","title":{"rendered":"Qatar\u2019s fiscal performance hits 27-year high"},"content":{"rendered":"\n<p>DOHA Qatar, 4 JULY 2024:\u00a0Qatar Airways Group reported the strongest financial performance in its 27-year history, announcing record profits of QAR6.1 billion (USD1.7 billion) in its Annual Report for the 2023\/24 financial year, released Tuesday.<\/p>\n\n\n\n<p>The multiple award-winning airline group reported historic net profits of QAR6.1 billion (USD1.7 billion) during the 2023\/24 fiscal year, with total revenue of QAR81 billion (USD22.2 billion). This represents an increase of QAR4.7 billion (US$1.3 billion) \u2013 up 6% compared to last year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"594\" height=\"353\" data-src=\"https:\/\/www.ttrweekly.com\/site\/wp-content\/uploads\/2024\/07\/1-2.jpg\" alt=\"\" class=\"wp-image-238482 lazyload\" data-srcset=\"https:\/\/www.ttrweekly.com\/site\/wp-content\/uploads\/2024\/07\/1-2.jpg 594w, https:\/\/www.ttrweekly.com\/site\/wp-content\/uploads\/2024\/07\/1-2-300x178.jpg 300w\" data-sizes=\"(max-width: 594px) 100vw, 594px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 594px; --smush-placeholder-aspect-ratio: 594\/353;\" \/><\/figure>\n<\/div>\n\n\n<p>The Group generated a strong EBITDA margin of 24% at QAR19.1 billion (USD5.2 billion), around QAR1.2 billion (USD0.3 billion) higher than the previous year. This reflects the business\u2019s continued focus on customer experience, innovation, digitalisation, and sustainability, resulting in streamlined, agile, and fit-for-purpose operations across all areas.<\/p>\n\n\n\n<p>This has created a strong platform for the future of the Group\u2019s airline business, which carried more than 40 million passengers during the 2023\/24 fiscal year, an increase of 26% over the previous year.<\/p>\n\n\n\n<p>As a result, passenger revenue increased by 19%, with a capacity increase of 21% driven by the airline&#8217;s highest-ever load factor of 83%, offering a sustainable upsurge in market share.<\/p>\n\n\n\n<p>Qatar Airways\u2019 network grew to more than 170 destinations in 2023\/24, adding Al Ula, Neom and Tabuk in Saudi Arabia; Lyon and Toulouse, France; Medan, Indonesia; and Trabzon, Turkey throughout the year.<\/p>\n\n\n\n<p>This is in addition to the resumption of operations to 14 destinations, including Bahrain, Bahrain; Birmingham, UK; Beijing, Chengdu and Chongqing, China; Davao, Philippines; Tokyo Haneda and Osaka, Japan; Marrakesh, Morocco; Nice, France; Penang, Malaysia; Phnom Penh, Cambodia, Ras Al Khaimah, UAE; and Yanbu, Saudi Arabia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DOHA Qatar, 4 JULY 2024:\u00a0Qatar Airways Group reported the strongest financial performance in its 27-year history, announcing record profits of QAR6.1 billion (USD1.7 billion) in its Annual Report for the 2023\/24 financial year, released Tuesday. The multiple award-winning airline group reported historic net profits of QAR6.1 billion (USD1.7 billion) during the 2023\/24 fiscal year, with [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":238482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[469,447],"tags":[],"class_list":{"0":"post-238481","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-airlines","8":"category-middle-east"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Qatar\u2019s fiscal performance hits 27-year high - TTR Weekly<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ttrweekly.com\/site\/2024\/07\/qatars-fiscal-performance-hits-27-year-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qatar\u2019s fiscal performance hits 27-year high - TTR Weekly\" \/>\n<meta property=\"og:description\" content=\"DOHA Qatar, 4 JULY 2024:\u00a0Qatar Airways Group reported the strongest financial performance in its 27-year history, announcing record profits of QAR6.1 billion (USD1.7 billion) in its Annual Report for the 2023\/24 financial year, released Tuesday. 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