Qatar Airways Cargo FY2022 revenue hits $6bn

Qatar Airways Cargo reported record revenue of $6.3 billion for the year ended March 31, 2022, an increase of 25 percent, on almost 10 percent growth in freight carried (272,975 tonnes) at over 3 million tonnes.

"Qatar Airways Cargo accounted for nearly 8 percent global market share in April 1, 2021 to March 31, 2022," according to the Annual Report 2021-2022.

Serving over 65 dedicated freight destinations and more than 140 belly-hold passenger destinations, the carrier operated 155 flights per day at the peak in June 2021, the report added.

"The airline transported more than 600 million doses of Covid-19 vaccines till date and also concentrated its efforts in enhancing its renowned pharma product and industry presence while also ensuring commitment to its ground-breaking WeQare initiative."

The Group also signed a $20 billion firm order, as global launch customer, for up to 50 of the world's largest twin-engine cargo jet, the Boeing 777-8 Freighter aircraft in January 2022.

"With a 25 percent improvement in fuel efficiency, emissions and operating costs, the 777-8 Freighter will join Qatar Airways Cargo's 28 strong aircraft fleet which includes 26 Boeing 777-200F and two Boeing 747-8F aircraft. In addition to this, Qatar Airways Cargo currently operates two Boeing 747-4 freighters and one Airbus A 310-300 freighter all under ACMI contract."

Qatar Airways Group reported a net profit of $1.54 billion on revenue of $14.77 billion as it celebrates the 25th anniversary year of operations.

"This year Qatar Airways Group celebrates a quarter of a century of history since its relaunch, whilst maintaining strong performance and growing profitability," says Akbar Al Baker, Chief Executive, Qatar Airways Group. "Our commitment to providing the greatest choices to our passengers, maintaining the highest levels of safety in the industry and earning trust have made us proudly become the airline of choice for millions of travellers around the world. We have pursued every business opportunity and left no stone unturned as we aimed to meet our targets."

Employees get bonus
Al Baker, in a letter addressed to employees, said: " We should all be proud to be in this strong financial position thanks to your diligence and application over these 12 months. As a result, it allows us to announce an Employee One-Time payment of one month's basic salary to all eligible Qatar Airways employees."