Qatar Airways posts a surge across the board: Qatar Airways Group saw its net income attributable to shareholders surge nearly 28.5% y-o-y — per our calculation — to QAR 7.9 bn (c. USD 2.2 bn) for its FY 2024-25 ending in March, according to the company’s annual report (pdf). The firm’s revenues rose 6.3% y-o-y — also in our calculation — to QAR 85.6 bn (c. USD 23.5 bn) for the same period, according to the company’s financials (pdf).

Operational expansion: Qatar Airways' fleet grew by 12 aircraft: two passenger, one freighter, seven private jets, and two leased to accommodate for higher demand. Qatar Airways increased capacity by 3.5% versus FY23-24 and added frequencies to 48 markets last year.

The cargo arm saw a boost…: The Qatari carrier’s cargo arm — Qatar Airways Cargo — saw a 17% y-o-y rise in revenue to QAR 17.9 bn — which the company deemed the highest figure since the Covid-19 pandemic. The cargo arm transported over 1.5 mn tons in the period, clinching 7.11% in market share. Fleet and network investments saw new freighter routes to Abu Dhabi, Sharjah, Vienna, Kuala Lumpur, and London.

…as did ground handling: Qatar Aviation Services handled ground operations for over 52 mn passengers in FY 24-25, an 8% y-o-y increase. The division achieved a 99% On-Time Performance rate.

A spate of acquisitions: The flag carrier received approval from the Australian government for its acquisition of 25% of Virgin Australia this month, snapping up a share from US private equity firm Bain Capital. The company also acquired a 25% stake late last year in South African-based airline Airlink, whose fleet comprises more than 65 aircraft.

Qatar Airways lined up for new Boeing aircraft: The airline inked a USD 96 bn agreement to acquire 160 jets from US manufacturer Boeing, with an option to add 50 more aircraft, during US President Donald Trump’s tour of Gulf countries last week.

Déjà vu? Qatar Airways had previously reported record-breaking performance in FY 2023-24, posting a 39% y-o-y increase in net income to QAR 6.1 bn (USD 1.68 bn). Its top line surged 6% y-o-y to QAR 81 bn (USD 22.26 bn), due to rising demand and capacity increases.

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