Latest news with #Al-Meer
Skift
20-05-2025
- Business
- Skift
Qatar Airways CEO: Boeing Win Over Airbus was a ‘Very Close Call'
Al-Meer's comments herald a bold new chapter anchored around U.S.-built aircraft, but they're also a reaffirmation of Qatar Airways' pragmatic and often opportunistic fleet strategy. The chief executive of Qatar Airways has shared new insight into the decision-making process behind last week's enormous aircraft order. On May 14, the airline signed a historic deal with Boeing for up to 210 widebody planes. The contract, first announced by the White House during a visit to Doha by President Trump, is one of the largest orders of its type in Boeing's history. Speaking to CNN, Qatar Airways CEO Badr Mohammed Al-Meer described the decision to select the U.S. manufacturer over its European rival as 'a very, very, very, close call.' Al-Meer said the procurement work for the new aircraft started in early 2024. He highlighted that both companies, plus their associated engine-makers, were in contention until the final stages. 'We started the process almost a year and a half ago when we decided to create a competition through this RFP [request for proposal] between both aircraft manufacturers – Airbus and Boeing – as well as both engine suppliers, GE and Rolls-Royce,' said the Qatar Airways CEO. Despite Boeing ultimately winning the order, Al-Meer suggested that Ai
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Business Standard
19-05-2025
- Business
- Business Standard
Qatar Airways profit jumps 28% to $2.1 bn, expects strong demand ahead
State-owned Qatar Airways posted an annual net profit of a record 7.8 billion riyals ($2.1 billion) for the 2024 financial year ended March 31, up 28% from a year earlier, the company said on Monday, and expects strong demand ahead. Demand from the Gulf has defied a global slowdown, with regional airlines reporting steady bookings even as trade tensions, currency swings and recession fears weigh on key Western markets. CEO Badr Mohammed Al-Meer said the company had established strategic partnerships across the industry to enable it to "remain agile in the face of ever-shifting world events, whether political, economic or environmental." "Our best year commercially in the airline's history was 2024 and we fully expect demand in 2025 to remain as strong," Al-Meer said in a statement. Revenue and other operating income rose over 6% to 86 billion riyals for the 12 months ended March 31. The airline carried just over 43 million passengers over the year, up 7.8% year-on-year. Network capacity grew by 4% compared to the previous financial year. Over the past year, Qatar Airways has acquired a 25% stake in Virgin Australia and a 25% stake in South Africa-based regional carrier Airlink. It placed an order last week for 160 Boeing 777X and 787 planes with GE Aerospace engines worth $96 billion, the largest ever widebody deal for the companies, during U.S. President Donald Trump's high-profile visit to Qatar. Qatar Airways saw above-market growth in passenger numbers from April 2024 until January this year, a senior executive told Reuters in March, up 9% across its network.
BusinessToday
19-05-2025
- Business
- BusinessToday
Qatar Airways Reports Record-Breaking Profit of US$2.15 Billion For FY24/FY25
Qatar Airways Group has announced the strongest financial results in its history, posting a record net profit of QAR7.85 billion (US$2.15 billion) for the fiscal year 2024/2025 (FY24/FY25), a significant year-on-year increase of over QAR1.7 billion (US$0.5 billion). The group's stellar performance spans across its entire ecosystem, including Qatar Airways Cargo, Qatar Duty Free and catering services, and reflects the group's strategic agility, robust digital transformation and unwavering commitment to service excellence. 'This exceptional achievement is a direct result of the dedication, skill and resilience of our global workforce. 'Our performance this year validates the strategic direction set out under Qatar Airways 2.0, with a clear focus on people, innovation and partnerships,' Group Chief Executive Officer Engr. Badr Mohammed Al-Meer said. Key Milestones and Strategic Achievements: 28% increase in Group profit over the previous financial year. Major expansion of Hamad International Airport, now capable of handling 65 million passengers annually. First global airline and MENA carrier to install Starlink super-fast WiFi on its Boeing 777 fleet. Acquisition of 25% stakes in both Virgin Australia and South African regional carrier Airlink, expanding the group's global footprint. Introduction of conversational artificial intelligence in Sama, the world's first digital cabin crew. Multiple technical memoranda of understandings signed, aimed at future-proofing and diversifying group operations in alignment with Qatar National Vision 2030. Looking ahead, Al-Meer reaffirmed the airline's commitment to innovation and sustainability, saying, 'Our financial strength enables us to invest in the future — in new technologies, better experiences and sustainable growth that benefits both our customers and the industry at large.' Related
The Star
07-05-2025
- Business
- The Star
Middle Eastern airlines are stockpiling aircraft parts to ease tariff pain
Plane maintenance is expensive so having a stockpile of aircraft parts makes good sense. — Pixabay Qatar Airways said it can withstand the shocks from higher tariffs thanks to its stockpile of aircraft spares that might otherwise be harder to source. The company has built up sufficient inventory, and while there will likely be an impact on air-freight goods stemming from higher import charges, Qatar Airways will 'absorb and adapt with any changes', chief executive officer Badr Al-Meer said in an interview in Doha, Qatar. Passenger demand is also sufficiently robust to keep ticket prices steady, he said. 'If I tell you tariffs are not impacting us, I will not be honest with you,' Al-Meer told Bloomberg TV. 'Of course, it will have an impact on our supply chain ... on our cargo operation.' The CEO's comments underpin the tough situation that airlines and planemakers face after US president Donald Trump unveiled tariffs with most of the country's trading partners. Airlines are already grappling with higher prices for spare parts and face the spectre of tariffs on new aircraft. Travel demand is meanwhile weakening in the US and elsewhere, as passengers absorb the financial hit in the form of rising consumer prices and slumping stock portfolios. Al-Meer said the airline continues to enjoy strong sales on its US routes despite the uncertainty stoked by Trump's policies, with the trend set to continue in coming months. That sentiment has been echoed by Emirates, the world's largest long-haul airline, which also said that it has not experienced a slowdown. Conversely, carriers including Virgin Atlantic Airways have said that they've noticed some drop-off on routes across the Atlantic. American Airlines recently withdrew its full-year earnings outlook, saying that unease about the economy is making it difficult to forecast how the year will play out. Al-Meer said that even if costs rise for Qatar Airways, it won't pass these on in the form of higher ticket prices to customers. The carrier already faces additional costs due to a diverse fleet that includes both Boeing and Airbus aircraft, adding complexity in areas like maintenance or training. Al-Meer hinted at a possible focus on just the Airbus A320-family aircraft for the single-aisle fleet, meaning that the Boeing 737 planes on lease would be phased out. Bloomberg reported in December that the airline was considering dropping a Boeing narrowbody order that it had placed at a time when it was stuck in a dispute with Airbus that briefly deprived it of its A320 purchase agreement. Now that the airline has mended ties with the European planemaker, it plans to focus on one type of narrowbody, and Al-Meer said 'you know where our narrowbody strategy is going' as he pointed to the existing order of almost 60 A321neos from Airbus. The carrier is also working on a large widebody purchase that it plans to announce in coming weeks, according to the CEO. The deal would further solidify the Middle East as a major source of business for the two planemakers, as airlines expand and renew their fleets and locations like how Saudi Arabia spends billions to transform into tourism destinations. Qatar Airways is now the second-largest airline in the region behind Emirates, and the company has built its long-range fleet around the Boeing 777 and 787 models, as well as the Airbus A350 and older A330 aircraft. The airline has also ordered Boeing's new 777X model, though that aircraft is long-delayed and won't enter service with Qatar before next year. Given the delay, Qatar plans to put its upgraded Q-Suite business-class suite on board its A350s rather than wait for the Boeing planes to arrive, Al-Meer said. It's a strategy also deployed by other carriers that have touched up the cabins of existing aircraft to make up for the wait for new planes. – Bloomberg
Qatar Tribune
05-05-2025
- Business
- Qatar Tribune
QDF celebrates 25 years of excellence
Tribune News Network Doha Qatar Duty Free (QDF), a global leader in airport retail and hospitality, marked its 25th anniversary with a heartfelt tribute from Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al-Meer. As QDF celebrates a quarter-century of innovation and service excellence at Hamad International Airport, Engr. Al-Meer extended his deepest appreciation of all the staff, notably those who have been with QDF since its inception. Staff at heart of success Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al-Meer, said: 'Qatar Duty Free embodies the dedication, creativity, and passion of our entire Qatar Airways team. Our colleagues at QDF are the heartbeat of our passenger-focused operations. Their commitment has transformed QDF into a world-class business, providing memorable experiences for millions of travellers each year.' From the launch of QDF's first retail outlets to the unveiling of world-first concepts like the Louis Vuitton Lounge and Souq Al Matar, the staff have been instrumental in transforming the airport experience and setting new benchmarks in airport retail and hospitality. Honouring 25 yrs of service As part of the anniversary celebrations, QDF honours eight remarkable staff members who have contributed to its success from the very beginning. These individuals embody the spirit of Qatar Duty Free: resilience, innovation, and a relentless drive for excellence. Their careers have mirrored QDF's own journey of growth, from a modest retail offering to an award-winning enterprise with over 4,000 team members and more than 200 shopping and dining destinations. A culture of innovation and inclusion Qatar Duty Free's success is built on a culture that values every team member's contribution. Through continuous investment in people, technology, and partnerships, QDF has become a beacon of innovation and cultural engagement, offering travellers a unique blend of Qatari heritage and iconic global brands. Looking ahead As Qatar Duty Free enters its next chapter, Engr. Badr Mohammed Al Meer reaffirms the company's commitment to its staff and customers: 'Our people will always be at the centre of everything we do. Together, we will continue to set new standards and deliver world-class experiences to customers passing through Hamad International Airport'.
