{"id":79477,"date":"2024-07-03T00:00:00","date_gmt":"2024-07-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/07\/03\/qatar-airways-secures-best-performance-to-date-in-fy-2023-2024\/"},"modified":"2024-07-03T00:00:00","modified_gmt":"2024-07-03T00:00:00","slug":"qatar-airways-secures-best-performance-to-date-in-fy-2023-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/07\/03\/qatar-airways-secures-best-performance-to-date-in-fy-2023-2024\/","title":{"rendered":"Qatar Airways secures best performance to date in FY 2023-2024"},"content":{"rendered":"

<\/strong>Qatar Airways Group saw a 39% y-o-y increase in net income to a record-breaking <\/strong>QAR 6.1 bn (USD 1.68 bn) in FY 2023-24<\/strong>, according to a press release<\/a>. The airline's topline was up 6% y-o-y to QAR 81 bn (USD 22.26 bn), with the airline citing rising demand and capacity increases as key factors.<\/p>\n

Behind the numbers:<\/strong> The airline expanded its capacity by 21%, buoyed by a record high load factor of 83%, says the statement. \u201cOur continued focus on profitability, efficiency and customer experience have been underpinned by a strategic programme of network growth and fleet expansion, resulting in the highest revenues and profit margins in the history of the airline,\u201d Qatar Airways Group CEO Badr Mohammed Al-Meer said in the statement.<\/p>\n

A closer look:<\/strong> Qatar Airways Cargo boosted its share of the global market by 0.04% y-o-y to 7.1% in FY 2023-2024, which the firm attributes the growth to a focus on expanding digitalization and sustainability.<\/span><\/p>\n

Looking ahead:<\/strong> Qatar Airways is witnessing pressure on its airfares as southeast Asian and Australian rivals provide more capacity and the post-pandemic air travel rush begins to ease, Bloomberg<\/a> writes. \u201cThe seat factor has stayed high, so we\u2019re able to generate traffic in line with our seat growth, but we have pressure on yields because we have more capacity in the market, and maybe a bit less of a catch-up effect in general,\u201d CCO Thierry Antinori is quoted as saying by the outlet.<\/p>\n

Capacity is being balanced by delays:<\/strong> Delivery delays from aircraft manufacturers Airbus and Boeing have kept airline capacity stable so far. Emirates airlines postponed the deployment of new Airbus A350 planes by almost two months due to delivery delays this week<\/a>.<\/p>\n

Background:<\/strong> Airbus said last week<\/a> that it expects to deliver 770 commercial aircraft in 2024, down from a previous forecast of 800 deliveries. Ongoing delivery delays have been spurred by persistent supply disruptions for engines and cabin equipment.<\/p>\n

An acquisition in the cards?<\/strong> Qatar Airways is in discussions<\/a> for the potential acquisition of a 20% stake in Virgin Australia Airlines.<\/p>\n","protected":false},"excerpt":{"rendered":"

The airline's topline was up 6% y-o-y to QAR81 bn, with the airline citing rising demand and capacity increases as key factors.<\/p>\n","protected":false},"author":1,"featured_media":79478,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[145,174,153],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-aviation","tag-earnings-watch","tag-qatar","wpautop","entry"],"acf":{"mongo_id":"53fa7204-70b7-4f5f-99db-75756f1e5409","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/279.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Qatar Airways secures best performance to date in FY 2023-2024","related_issue":[79467],"teaser":"The airline's topline was up 6% y-o-y to QAR81 bn, with the airline citing rising demand and capacity increases as key factors.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.af1fc40e-63ca-401a-a94e-9b9983efba29.mp3"},"yoast_head":"\nQatar Airways secures best performance to date in FY 2023-2024 - 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