Qatar Airways delivers $2.1 billion in 2024-25 profits – ‘strongest financial results in its history’

Dubai: Qatar Airways has announced a record net profit of $2.15 billion for the financial year ending March 31, 2025—cementing its position among the top-performing global carriers in the post-pandemic aviation rebound.

This 28 per cent year-on-year jump from $1.7 billion in 2024 comes from increased passenger numbers, robust cargo growth, and strategic global investments.

The airline’s revenue rose to $23.4 billion from $22.1 billion a year earlier, as it carried 43.1 million passengers across its expanding network. Qatar Airways Group CEO Badr Mohammed Al-Meer attributed the growth to “hard work, strategic partnerships, and resilience in navigating a shifting global landscape.”

Cargo operations contributed significantly to the group’s performance, with Qatar Airways Cargo registering a 17 per cent revenue increase. The airline’s fleet of over 230 aircraft—including long-haul Boeing and Airbus jets—supported passenger and freight operations.

But it’s not just financials that highlight the Doha-based airline’s ascent. In a landmark deal signed during US President Donald Trump’s recent GCC tour, Qatar Airways confirmed a record-setting order with Boeing: up to 210 aircraft, including 130 Dreamliners, 30 Boeing 777-9s, and options for 50 more. The deal is valued at up to $96 billion and signals Qatar’s intent to scale its global footprint aggressively.

This investment in new aircraft is expected to support the airline’s ambitions as it continues to expand its network and cater to the increasing demand for air travel through its hub at the recently expanded Hamad International Airport, which now boasts a capacity of 65 million passengers annually.

The airline's annual results announcement confirms CEO Badr Al Meer's comments during the Concourse D and E launch at Hamad International Airport earlier this year.

“Concerning profitability, the fiscal year ending March 31, which is 10-11 days away, the profits will be better than previous years,” Al Meer had said in March this year.

On the airline's plans for an IPO, Al-Meer said this matter is "under review by the Qatar Investment Authority and other government entities regarding privatisation and a potential IPO." If any decisions are made, they will be announced in due course.

GCC airlines, including Etihad Airways and flynas, are increasingly considering IPOs to capitalise on the resurgence of international travel.

When asked if there were any new acquisition plans for the airline in the pipeline, “We are very close with our equity investment in Rwanda Air, which is a good addition to our network. After Rwanda Air, we don’t have anything planned yet.”

Last year, Qatar Airways Group acquired a 25 per cent stake in Southern Africa's independent regional carrier, Airlink.

Regarding GCC airline profitability and potential mergers, like those of European carriers, Al-Meer stated that Qatar Airways has no plans for a merger. “Unlike European carriers, which often merge to avoid bankruptcy, Qatar Airways remains financially strong and independent,” he added.

This expansion strategy is already taking shape. Earlier this year, Qatar Airways secured regulatory approval in Australia for a 25 per cent stake in Virgin Australia—injecting foreign competition into a domestic market long dominated by Qantas. It also holds a 25 per cent stake in South African regional carrier Airlink, acquired in August 2024.

The airline's growing influence mirrors similar moves by Gulf carriers like Emirates, which recently posted a $5.2 billion annual profit and remains the most profitable airline globally. Together, these moves reinforce the Gulf’s dominance as a strategic aviation hub linking East and West.