Qatar Airways Reports Record Revenue Boosted by FIFA World Cup

Qatar Airways Group announced record annual revenue for the fiscal year 2022/23, attributing its financial success to the FIFA World Cup hosted in Qatar. The airline reported a 100% increase in passenger revenue, resulting in overall revenue of 76.3 billion Qatari riyals ($21 billion).

In the past year, Qatar Airways saw a significant increase in the number of passengers, with 31.7 million passengers flying with the carrier, marking a 71% rise compared to the previous year. The FIFA World Cup played a substantial role in this increase, with the airline transporting 1.4 million passengers to the tournament as the official airline.

Qatar Airways credited its financial achievements to a “successful strategy during an extraordinary year.” This aligns with the broader global trend of airlines experiencing a resurgence as the travel industry recovers from the pandemic. In recent months, various airlines, including Emirates and Ryanair, have reported substantial profits.

Despite facing competition from new rivals like Riyadh Air, which launched in March, Qatar Airways CEO Akbar Al Baker expressed confidence in his airline’s ability to compete effectively in the market.

Investors will be closely monitoring Qatar Airways’ performance in the coming year, as the airline continues to adapt to evolving market dynamics and competition while maintaining its strong position.