Qatar Airways is on track to surpass its previous years’ financial performance, as confirmed by CEO Badr Al Meer. With just days remaining in the airline’s 2024-25 fiscal year, Al Meer has expressed confidence that the company’s profitability will exceed past records.
The airline, which posted an unprecedented 6.1 billion Qatari riyals ($1.67 billion) in net profit last year, has sustained its growth momentum. In the previous fiscal year, revenue climbed by 6 per cent to reach 81 billion riyals, reflecting strong passenger demand and strategic network expansion.
Al Meer’s optimism stems from the airline’s continued strong financial performance, strategic investments, and an expanding operational footprint, particularly in its home base at Hamad International Airport (DOH).
Qatar Airways’ headquarters, Hamad International Airport, recently underwent a major expansion with the addition of two new concourses—D and E. This expansion has increased the airport’s annual passenger capacity to 65 million, up from its previous capacity. The new infrastructure spans 842,000 square meters, marking a 14 per cent increase in overall space. Additionally, the number of boarding gates has risen by 40 per cent to 62, with 17 new gates now operational.
This latest expansion follows the earlier introduction of ‘Orchard,’ a 6,000-square-meter indoor tropical garden that was unveiled in 2022. Together, these enhancements reinforce DOH’s standing as a premier global aviation hub.
While Al Meer declined to disclose the specific financial details of the airport expansion, he assured that the increased operating costs associated with a larger terminal would be offset by higher revenue and profitability. “The expansion would add value and increase annual net profit,” he affirmed.
Beyond revenue growth, the expansion is also a significant boost to employment within Qatar’s aviation and hospitality sectors. While official job creation figures have not been disclosed, the project is expected to generate substantial employment opportunities.
The potential for Qatar Airways to undergo privatisation or launch an initial public offering (IPO) remains under consideration. The Qatar Investment Authority and other governmental bodies are currently reviewing this possibility, and any final decisions will be disclosed in due course.
With an increasing trend among Gulf airlines considering IPOs—such as Etihad Airways and flynas—Qatar Airways’ potential entry into public markets would align with broader regional industry movements.
Despite IPO deliberations, Qatar Airways remains focused on strategic investments. The airline recently acquired a 25 per cent stake in Virgin Australia from Bain Capital, making it a key investor in Virgin Australia’s anticipated IPO. This acquisition fortifies Qatar Airways’ footprint in the Australasian market, expanding its global influence and connectivity.
Qatar Airways is actively pursuing investments beyond its home market. Al Meer confirmed that the airline is nearing completion of its equity investment in Rwanda Air, marking a strategic addition to its network in Africa. This follows Qatar Airways’ previous acquisition of a 25 per cent stake in Southern Africa’s regional carrier, Airlink, strengthening its presence on the continent.
When asked about future acquisition plans, Al Meer stated that no additional purchases are currently in the pipeline beyond Rwanda Air.
While airline mergers have become a common trend among European carriers seeking financial stability, Qatar Airways has no plans to follow suit. Al Meer emphasized that unlike struggling European airlines, which often merge to avoid bankruptcy, Qatar Airways remains financially strong and independent.
China continues to be a key growth market for Qatar Airways. Al Meer highlighted that flights to and from China consistently operate at load factors of 88–89 per cent, with aircraft fully booked and generating substantial revenue. This underscores the airline’s strategic focus on high-demand international routes.
With record profits expected for the 2024-25 fiscal year, expansion at Hamad International Airport, strategic investments in international markets, and a stronghold in high-revenue routes like China, Qatar Airways is reinforcing its position as a dominant global airline.
