Latest news with #BadrAlMeer
Zawya
5 days ago
- Business
- Zawya
Qatar Airways signs $1.23bln loan facility with local Qatari banks
Doha, Qatar: For the first time in 28 years, Qatar Airways has signed a landmark agreement with leading local Qatari Banks led by QNB to provide QAR 4.5 billion in strategic financing. The financing will be provided by domestic banks in Qatar. The syndication was fully underwritten and led by QNB Group as the sole and exclusive Book Runner, Global Coordinator, Initial Mandated Lead Arranger and Structuring Bank, while the lending banks include Ahlibank, Commercial Bank, Doha Bank, Dukhan Bank, QIB, and QIIB. This new agreement will see an innovative approach taken whereby local banks lend in Qatari Riyals in both conventional and Islamic tranches and commercial terms in line with international benchmarks for a strategic financing transaction of this nature. Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al-Meer, said: 'Qatar Airways' latest purpose-driven partnership demonstrates our trust in the operational excellence of the Qatari banking sector. We are honoured to collaborate with the leading banks of Qatar as we continue to further our commitment to fulfilling the Qatar National Vision 2030. We thank the financial institutions that have played a vital role in shaping our journey, offering support that has helped us reach new millstones. We believe such strong and resilient partnerships remain essential for driving industry innovation and expanding global connectivity.' QNB Group Chief Executive Officer, Abdulla Mubarak Al-Khalifa, said:"We are pleased to have been selected by Qatar Airways for this prominent role. This appointment underscores QNB's expertise in structuring complex financing solutions and its commitment to supporting the growth objectives of our clients and supporting Qatar National Vision 2030." As Qatar Airways continues its ambitious fleet and network growth strategy, the airlines said that it remains firmly committed to supporting local institutions, enhancing economic development, and contributing to national prosperity. It further added that with this agreement, the national carrier also aims to stimulate greater collaboration between the aviation and the banking sector, paving the way for innovative financial structures tailored to the airline's evolving needs while promoting national economic resilience. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Business
- Zawya
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. (
News.com.au
21-05-2025
- Business
- News.com.au
Qatar Airways reveals historical profit win
Qatar Airways Group has achieved a record-breaking financial result for the fiscal year with the carrier making $A3.35 billion – up $A780 million from last year. It marks the strongest financial result in its history that includes cargo, catering and Qatar Duty Free. According to a statement released on Tuesday, its cargo division recorded a huge 17 per cent growth in revenue, achieving the best financial results since the Covid period. It attributed the success to adapting to shifting market conditions and investing in digitalisation. 'These record-breaking results are a testament to the hard work, skill and dedication of teams across all of Qatar Airways Group,' Qatar Airways Group chief executive officer, engineer, Badr Mohammed Al-Meer, said. Mr Al-Meer thanked the more than 55,000 employees across its global network around the world, adding that fostering talent has been a core focus of its Qatar Airways 2.0 strategy. 'We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events, whether political, economic or environmental,' he said. 'All of this means we continue to offer and develop exceptional service in the skies, whether it's the award-winning Qsuite, fine dining, or super-fast complimentary Starlink internet connectivity for all passengers.' It comes as the Middle-Eastern based airline joined forces with Virgin Australia giving the carriers the green light to double the number of flights between Doha and Australian airports over the next five years. The Aussie carrier has largely been out of the international market for four and a half years, but since partnering with Qatar Airways, it will now crack the Middle Eastern and European markets operating an additional 28 flights a week to Doha on behalf of the Australian carrier. Qatar Airways has a minority 25 per cent stake in Virgin Australia with long-haul flights to Doha commencing from June 1. The deal means Virgin can lease planes and staff from the Qatari airline and compete on the route. Virgin Australia CEO Jayne Hrdlicka told the move will strengthen the local aviation industry. 'It brings deeper resilience to Virgin Australia, it brings a tougher competitive edge to Virgin Australia and that's nothing but great for consumers,' she said. 'It also means Australians have greater choices, and better choices with respect to travelling long-haul to Europe through the Middle East and into Africa. 'We're really excited about the opportunity that better competition is going to create for consumers.' Velocity Frequent Flyer members who book flights between Sydney, Brisbane, and Perth to Doha between June 12 and December 10, 2025, will have access to even more rewards seats. Meanwhile, earlier this month Qatar Airways revealed it had another huge win after it placed the largest aircraft order in its history with manufacturing partner Boeing [NYSE: BA]. As part of its strategic fleet growth plan, the landmark order includes up to 210 Boeing widebody jets – 160 firm and 50 option – which is the largest widebody order and the largest 787 Dreamliner order in the American aerospace company's history.
Gulf Business
20-05-2025
- Business
- Gulf Business
Qatar Airways reports record-breaking financials for FY2024-25
Image: Qatar Airways Qatar Airways has posted its strongest financial performance in the company's history, with net profits reaching QAR7.85bn ($2.15bn) for the 2024-25 fiscal year. The results represent a year-on-year increase of more than 28 per cent, or QAR1.7bn ($0.5bn), and mark a milestone in the airline's strategic transformation under its renewed 'Qatar Airways 2.0' strategy. The group's portfolio includes Qatar Airways, Qatar Airways Cargo, catering services, and Qatar Duty Free. The strong results were attributed to strategic agility, talent development, and enhanced digital capabilities across the business. Qatar Airways 2.0 strategy is a key enabler 'This record-breaking performance is a testament to the hard work, skill, and dedication of our global team of over 55,000 professionals,' said Engineer Badr Mohammed Al-Meer, Qatar Airways groupCEO. 'Our Qatar Airways 2.0 strategy focuses on empowering talent, fostering innovation, and building strategic partnerships that help us navigate an ever-changing global landscape — be it political, economic, or environmental.' Qatar Airways Cargo, already ranked as the world's largest air cargo carrier, recorded a 17 per cent year-on-year increase in revenue. The division posted its best financial results since the Covid-19 pandemic, driven by adaptive market strategies, investment in digitalisation, and enhanced operational reliability. Qatar Airways Group announces strongest financial results in its history: Profits for the Group reached QAR 7.85 bn (US$2.15bn) in the 24/25 fiscal year – an increase of more than QAR 1.7bn (US$0.5bn) on the year before. For more information: — Qatar Airways (@qatarairways) In numbers: Major milestones and strategic investments Key highlights from the group's financial year include: A 28 per cent year-on-year profit growth. Expansion of Hamad International Airport, now capable of handling 65 million passengers annually. Becoming the first global airline — and the first in the MENA region — to install Starlink super-fast WiFi on its Boeing 777 fleet. Acquisition of a 25 per cent stake in Virgin Australia. Purchase of a 25 per cent interest in South Africa's regional airline, Airlink. Deployment of 'Sama', the airline's world-first conversational AI-powered digital cabin crew. Signing of various technical memorandums of understanding (MoUs) to diversify operations and align with Qatar National Vision 2030. 'We continue to offer and develop exceptional services—whether it's our award-winning Qsuite, in-flight fine dining, or complimentary high-speed Starlink internet,' Al-Meer added. Qatar Airways has also placed major
Travel Daily News
20-05-2025
- Business
- Travel Daily News
Qatar Airways Group announces strongest financial results in its history
Qatar Airways Group profit grows by more than 28% to over QAR7.85bn (US$2.15bn). Renewed 'Qatar Airways 2.0' strategy credited with driving record-breaking performance. DOHA, QATAR – Qatar Airways Group has announced the strongest set of financial results in its history. Profits for the Group, which includes cargo, catering and Qatar Duty Free, reached QAR7.85bn (US$2.15bn) in the 24/25 fiscal year – an increase of more than QAR1.7bn (US$0.5bn) on the year before. Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al-Meer, said: 'These record-breaking results are a testament to the hard work, skill and dedication of teams across all of Qatar Airways Group. I know that none of the outstanding results we're announcing today would be possible without our people – more than 55,000 of them across the globe – and it's our focus on fostering that talent, which has been a core focus of our Qatar Airways 2.0 strategy. 'We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events, whether political, economic or environmental. 'All of this means we continue to offer and develop exceptional service in the skies, whether it's the award-winning Qsuite, fine dining, or super-fast complimentary Starlink internet connectivity for all passengers.' Key achievements of Qatar Airways Group over the last financial year include: Record-breaking 28% increase in profit in 24/25 financial year. Expansion of Hamad International Airport, enabling it to cater for 65m passengers annually. First global airline, and first in MENA region, to install Starlink super-fast WiFi on its Boeing 777 fleet. 25% minority stake in Virgin Australia. 25% acquisition of South African premier regional airline, Airlink. Introduction of conversational AI into its world-first digital cabin crew, Sama. A range of technical MoUs future-proofing and diversifying the business across the sector, as well as working to fulfil the ambitions of the Qatar National Vision 2030. Looking ahead, Qatar Airways also recently made historic aircraft and engine orders, ensuring that its already modern and technologically-advanced fleet remains at the forefront of commercial aviation, providing world-leading service to passengers across the globe.
