Qatar Airways swings to annual profit on higher cargo volumes and passenger traffic – The National

Qatar Airways swings to annual profit on higher cargo volumes and passenger traffic – The National

Qatar Airways swung to an annual profit in its last fiscal year on the back of higher cargo volumes and surging passenger traffic, stemming losses that began in 2017 and worsened after the onset of the Covid-19 pandemic.

The airline posted a net profit of 5.6 billion Qatari rials ($1.5bn) for the fiscal year ended March 31, compared to a loss of 14bn rials a year earlier, it said in a statement on Thursday.

Revenue for the year increased 78 per cent year-on-year to 52.3bn rials.