Qatar Airways Group achieves record success in 2022/23 financial year as Official Airline Partner of FIFA World Cup Qatar 2022™

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Travellers queue up at Qatar Airways check in counter

Qatar Airways Group, the Official Airline Partner of the FIFA World Cup Qatar 2022™, has released its annual report for the 2022/23 fiscal year, showcasing strong financial performance and attributing its success to strategic positioning during an exceptional year, bolstered by a commitment to offering a world-class customer experience.

The Group recorded a net profit of QAR 4.4 billion (US$ 1.21 billion) during 2022/23. Overall revenue surged to QAR 76.3 billion (US$ 21.0 billion), up by an impressive 45 percent from the previous year. Notably, passenger revenue doubled year-on-year, with a capacity increase of 31 percent, as a result of a 9 percent higher yield and an 80 percent load factor – both the highest in the airline’s history. These figures contributed to a substantial and sustainable growth in market share.

During this period, Qatar Airways transported 31.7 million passengers, marking a 71 percent increase compared to the previous year. This growth can be attributed to the airline’s steadfast focus on customer experience, loyalty, digitalisation, and sustainability.

The Privilege Club, the airline’s loyalty programme, saw significant growth, backed by several new local and global partnerships and the introduction of Avios as its currency. Members can now use Avios for payment in Qatar Duty Free, Discover Qatar, and Qatar Holidays, along with a variety of leading global brands.

Throughout the fiscal year, Qatar Airways Cargo upheld its status as the world’s leading air cargo carrier, maintaining a strategic focus on growth, sustainability, and digitalisation, thereby supporting the continuity of global trade amidst prevailing market challenges.

As the national carrier of the State of Qatar, the airline showcased its agile capabilities by transporting 1.4 million passengers to the FIFA World Cup Qatar 2022™. This saw the airline’s network expand to over 160 destinations, including 13 resumed routes and two new additions, Dusseldorf, Germany and Santorini, Greece.

His Excellency Mr. Saad Bin Sharida Al-Kaabi, Minister of State for Energy and Qatar Airways Group Chairman, highlighted that the airline’s exceptional annual performance was an emblem of Qatar’s interconnectivity, significantly increasing business connections across the region. He took immense pride in Qatar’s role in hosting the FIFA World Cup Qatar 2022™, which he described as one of the most successful World Cup events in history.

His Excellency Mr. Akbar Al Baker, Qatar Airways Group Chief Executive, credited the strong financial results to robust passenger demand recovery, sustained network growth, market leadership, and the operational efficiencies achieved by the team.

Over the tournament period, Qatar Airways operated about 14,000 flights, transporting more than 1.4 million fans to Qatar. The FIFA World Cup Qatar 2022™ delivered considerable media return on investment for the Qatar Airways brand, with social media engagement growing by more than 83 percent.

In addition, Hamad International Airport, a convenient hub for over 80 percent of the world’s population, began its Phase B expansion in January 2023. The expansion will increase the airport’s capacity to 70 million passengers annually. At the 2023 Skytrax World Airport Awards, HIA clinched the Second-Best Airport in the World, World Best Airport Shopping, and Best Airport in the Middle East for the ninth consecutive time.

Furthermore, Qatar Airways Group maintained partnerships with various international sporting clubs and secured a five-year partnership as the Global Airline Partner of the Formula 1® racing series. Qatar Executive (QE), the VIP charter jet division of Qatar Airways, reported significant growth. Meanwhile, Discover Qatar (DQ) delivered an array of logistical arrangements and tourist experiences for the FIFA World Cup Qatar 2022™.

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