Latest news with #BadrMohammedAl-Meer
New Indian Express
19-05-2025
- Business
- New Indian Express
Qatar Airways reports record $2 billion annual profit
DOHA: Qatar Airways posted a 28 percent jump in annual net profit to a record $2.15 billion on Monday, days after sealing a major Boeing deal during US President Donald Trump's visit. "These record-breaking results are a testament to the hard work, skill and dedication of teams across all of Qatar Airways Group," said the state-owned carrier's chief executive, Badr Mohammed Al-Meer. Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17 percent on the year before, the airline said. "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," Al-Meer added in his statement. In Doha during a multi-stop tour of the Gulf last week, Trump hailed a "record" Qatar Airways order for 160 planes from Boeing as he signed a number of deals alongside Qatar's emir. The White House later said Qatar Airways would honour a "$96 billion agreement to acquire up to 210 American-made Boeing 787 Dreamliner and 777X aircraft powered by GE Aerospace engines". The order is comprised of 130 Dreamliner planes and 30 Boeing 777-9 jets, which are still being certified by the US Federal Aviation Administration. The order also includes options for 50 additional 787 and 777X planes, Boeing and Qatar Airways said in statements. In February, Australian authorities approved a Qatar Airways acquisition of a 25 percent stake in troubled airline Virgin Australia, injecting foreign competition into the country's aviation sector dominated by national carrier Qantas. In August last year, Qatar Airways acquired a 25 percent stake in Airlink, an independent Southern African carrier. In 2024, the Qatari airline reported a $1.7 billion net profit following an annual increase of 39 percent, another record.
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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.
ILoveQatar.net
19-05-2025
- Business
- ILoveQatar.net
Qatar Airways Group achieves strongest financial results in its history with QR 7.85 billion in the 2024/25 fiscal year
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 QR 7.85 bn (USD 2.15 bn) in the 24/25 fiscal year – an increase of more than QR 1.7bn (USD 0.5bn) on the year before. Qatar Airways Cargo, the world's leading cargo carrier, has delivered a remarkable financial performance, recording a 17% growth in revenue and achieving the best financial results since the COVID period. This is attributed to its agility in adapting to shifting market conditions, a focus on investing in digitalisation, deeper data-driven analyses, and its best-in-class reliability. Minister of Energy and Qatar Airways Group Chairman of the Board of Directors, H.E. Saad Sherida Al-Kaabi, said: 'These financial results show yet again Qatar Airways Group's leadership position not just in global aviation, but in driving the global economy. The achievements across the 24/25 financial year continue to position the airline and Group as a global economic force. This is not just a product of our employees' hard work, but of thoughtful, deliberate and strategic planning, which has allowed the business to thrive in a stable and sustainable way. 'Record-breaking profitability, underpinned by sound business decisions, is a hallmark of our success and I have every confidence that we'll see it continue.' 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. Source and cover image credit: Press release
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
Business Recorder
19-05-2025
- Business
- Business Recorder
Qatar Airways posts 28% jump in net profit to record $2.1 billion
DOHA: Qatar Airways posted a 28% jump in annual net profit to a record 7.8 billion Qatari riyals ($2.1 billion), according to a preliminary statement issued by the airline on Monday. '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,' CEO Badr Mohammed Al-Meer was quoted as saying in a statement from the airline. The government-owned airline's revenue and passenger data from the last year were not yet available. The airline's complete annual report was expected to be published on Monday morning. In the last year, Qatar Airways, seeking to boost passenger numbers and connectivity, bought a 25% stake in Virgin Australia and a 25% stake in South Africa-based regional carrier Airlink. Qatar Airways rejects reports of office closures in Pakistan The airline placed a firm order last week for 160 Boeing 777X and 787 planes with GE Aerospace engines worth $96 billion, the largest widebody deal ever for the companies. Qatar Airways has options to buy 50 more of the Boeing jetliners. The airline's Chief Commercial Officer Thierry Antinori told Reuters in March that the Qatari airline had seen above-market growth in passenger numbers from April 2024 until January this year, up 9% throughout its network, up 14% in Europe and up 12% in Germany.
