Group financial results demonstrate sustained and ongoing success in the face of adversity with Cargo Business now the largest in the world and Executive Jet Business seeing 18.4 per cent growth
DOHA, Qatar – Qatar Airways has today published its annual report for 2018-19, highlighting the airline group’s success and underlying robust financial health in the face of the continued illegal airspace blockade against the State of Qatar.
Overall revenue and other operating income grew by 14 per cent annually. Passenger revenue grew by 14.3 percent with capacity (Available Seat Kilometers) growth of 13.5 per cent. Cargo revenue witnessed growth of 16.8 per cent with cargo capacity (Available Tonne Kilometers) growing 11.8 per cent annually. Executive jet revenue also witnessed substantial growth of 18.4 per cent in comparison to previous year.
Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said: “2018-19 was a year of achievement in the face of adversity for Qatar Airways. Despite facing challenges that are unparalleled in the airline industry, I am very proud that we have grown our fleet, expanded our network and seen overall revenue increase to QAR 48 billion (USD 13.2 billion), a rise of 14%. Passenger numbers are up, capacity as measured by available seat kilometres has risen and our Cargo business is now the largest in the world.
“2018-19 was nonetheless a challenging year and while it is disappointing that Group has registered a net loss of QAR 2.3 billion (USD 639 million) – attributable to the loss of mature routes, higher fuel costs and foreign exchange fluctuations – the underlying fundamentals of our business remain extremely robust.
“Our success is due to an unwavering belief in our strategy to give our passengers the very best, backed by the perseverance and hard work of our staff. I look forward to 2019-2020 with optimism and confidence that our growth will continue and we will serve even more countries around the world.”
The airline launched 11 new destinations during the fiscal year 2019 and has now added a total of 31 (as at 1 September 2019) since the start of the illegal blockade, growing its network to over 160 gateways around the world.
The airline’s fleet grew by 25 aircraft to a point where it welcomed its 250th aircraft in March 2019. With more than 300 aircraft worth more than USD 85 billion on order (including options and Letters of Intent) the group has the capacity to continue its ambitious but sustainable network expansion strategy.
During the financial year, the Group further built its investment portfolio by acquiring five percent of the total issued share capital of China Southern Airlines. This shareholding sits alongside its existing holdings in airlines such as Air Italy, Cathay Pacific, IAG, JetSuite and LATAM.
Overall, QR Group invested QAR 16.1 billion (USD 4.4 billion) in acquisition of aircraft and other assets as well as acquisition of shares of international airlines during the year.
2018-19 was also a year where the airline won dozens of awards, including the ‘Skytrax ‘World’s Best Business Class’ and ‘Best Airline In The Middle East’, Trip Advisor’s ‘World’s Best Business Class’ and Business Travellers’ ‘Best Long-Haul Airline’, ‘Best Business Class’, among many others.
Qatar Airways Group’s sponsorship with FIFA remained the core of its sponsorship portfolio and 2018 produced the undoubted highlight of the sporting calendar at the FIFA World Cup in Russia. Alongside the addition of multi-year partnerships with Bayern München AG, AS Roma, Boca Juniors and the Brooklyn Nets, sports sponsorships remain a key pillar to augment the airline’s commitment to bring people and communities together from across the globe.
Notes to Editors:
About Qatar Airways:
Qatar Airways, the national carrier of the State of Qatar, is celebrating more than 20 years of Going Places Together with travellers across its more than 160 business and leisure destinations on board a modern fleet of more than 250 aircraft. The world’s fastest-growing airline has added a number of exciting new destinations to its growing network this year, including Lisbon, Portugal; Malta; Rabat, Morocco; Davao, Philippines; Izmir, Turkey; and Mogadishu, Somalia; and will add Langkawi, Malaysia; and Botswana, Gaborone later in 2019.
A multiple award-winning airline, Qatar Airways was named ‘World’s Best Airline’ by the 2019 World Airline Awards, managed by international air transport rating organisation Skytrax. It was also named ‘Best Airline in the Middle East’, ‘World’s Best Business Class’ and ‘Best Business Class Seat’, in recognition of its ground-breaking Business Class experience, Qsuite. Qatar Airways is the only airline to have been awarded the coveted “Skytrax Airline of the Year” title, which is recognised as the pinnacle of excellence in the airline industry, five times.
Qsuite, a patented Qatar Airways product, features the industry’s first-ever double bed in Business Class, as well as privacy panels that stow away, allowing passengers in adjoining seats to create their own private room, a first of its kind in the industry.
Qatar Airways was the first Gulf carrier to join global airline alliance oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 160 countries, with 14,250 daily departures.
Oryx One, Qatar Airways’ in-flight entertainment system offers passengers up to 4,000 entertainment options from the latest blockbuster movies, TV box sets, music, games and much more. Passengers flying on Qatar Airways flights served by its B787, B777, A350, A380, A319 and select A320 and A330 aircraft can also stay in touch with their friends and family around the world by using the award-winning airline’s on-board Wi-Fi and GSM service.
Qatar Airways proudly supports a range of exciting international and local initiatives dedicated to enriching the global community that it serves. Qatar Airways, the official FIFA partner, is the official sponsor of many top-level sporting events, including the FIFA 2022 World Cup, reflecting the values of sports as a means of bringing people together, something at the core of the airline’s own brand message - Going Places Together.
Qatar Airways Cargo, one of the world’s leading international air cargo carriers, serves more than 60 freighter destinations worldwide via its world-class Doha hub and also delivers freight to more than 160 key business and leisure destinations globally on more than 250 aircraft. The Qatar Airways Cargo fleet includes two Boeing 747-8 freighters, 17 Boeing 777 freighters and five Airbus A330 freighters.
For further information, please contact:
Qatar Airways Group, Corporate Communications Department
Tel: +974 4022 2200