Qatar Airways, Boeing multi-billion dollar deal to power growth through 2045
Doha, Qatar: The recent aircraft order signed by Qatar Airways and Boeing marks a pivotal step in the airline's long-term fleet strategy until 2045, an official has said.
On the opening day of the Qatar Economic Forum, the Group CEO of Qatar Airways, Eng. Badr Mohammed Al-Meer underscored the primary reasons behind the selection and shed light on the airline's broader global ambitions, particularly in the Asia-Pacific region.
'We started this process back in March and April of 2024. We created a competitive environment between Boeing and Airbus, as well as between engine manufacturers Rolls-Royce and GE, to ensure we secured the best commercial and technical proposals. It was a very close call at every stage, leaning at times towards Airbus, then back to Boeing, who provided us with a better commercial and technical proposal,' said Al-Meer.
The new fleet is expected to start arriving in May 2029 and will support the airline's growth plans for the next two decades. 'This ticks all the boxes for us to continue growing, expand our fleet, enhance our network, and to begin retiring older aircraft,' Al-Meer noted.
Despite industry headwinds, demand for Qatar Airways' services remains strong. He said, 'We are witnessing demand that we simply cannot cater to at present. Our load factors are at historic highs, averaging 85.6 percent, and reaching 95 to 96 percent in some sectors.'
Al-Meer emphasised that the new aircraft order reflects the airline's confidence in future market trends. 'For now, this is the order we have placed until we see how the market evolves,' he said.
The Group CEO also explained Qatar Airways' strategic investment with Virgin Australia, citing limited traffic rights to Australia as a long-standing obstacle. 'Australia is a key market for us, yet we were restricted to 21 weekly flights. Our partnership with Virgin Australia added 28 more weekly flights. This is a win-win for us, Virgin Australia, and most importantly for Australian consumers, offering them more choice and competitive fares,' he said.
Beyond Australia, Qatar Airways is also targeting the Far East, where demand is high but regulatory restrictions persist. 'While we have open skies with Europe and the US, we face bilateral limits in Asia,' Al-Meer explained.
'To create balance between East and West, we have developed partnerships with Virgin Australia, Malaysia Airlines, and other regional carriers.'
The official expounded that many airlines are opting to refurbish older aircraft to remain competitive. 'Smaller carriers are shrinking, and the stronger ones like us are capturing a greater share of the market,' he said.
Al-Meer also reflected on the airline's financial performance, which reached QR7.85bn ($2.15bn) in the Fiscal Year 2024-25.
'This April was the best in our history, and May is expected to set another record. With advanced bookings, we are confident Q1 will outperform the same quarter last year by a significant margin,' he stated.
Al-Meer added, 'We have taken calculated risks, expanded into new markets, and thought outside the box. While revenue grew by 6 to 8 percent, net profit jumped 28 percent, a testament to our team's ability to drive efficiency and unlock new revenue streams.'
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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