Qatar Airways, one of the Mideast's largest carriers, said Thursday its profits over the past fiscal year topped $1.5 billion, marking the highest ever earnings for the state-owned carrier as it prepares to see a record surge in travelers for the upcoming FIFA World Cup soccer games.
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Qatar Airways operates out of Doha, on the eastern coastline of the Arabian Peninsula, where the World Cup will be held for the first time in the Middle East later this year.
The airline says revenue reached $14.4 billion, up 78% compared to last year. It carried 18.5 million passengers during the 2021-22 fiscal year, a more than 200% jump from the previous year.
Qatar Airways was buoyed during the pandemic's hardest months with a $3 billion lifeline from the Qatari government that helped keep its operations afloat as it struggled with long-haul travel restrictions wrought on by the virus.
The airline, however, says this year's "record earnings are the result of decisions made during the pandemic to expand the Qatar Airways' passenger and cargo networks," including a more accurate forecast of the global market recovery and strong cost control.
