(Posted 06th October 2024)
Qatar Airways Group offered leading aviation bankers, lessors, and insurers insights into its financial performance, network and fleet expansion, competitive differentiation, sustainability, and employee engagement
Under the theme “New Era of Dynamic and Sustainable Partnership”, Qatar Airways Group outlined its continued efforts to drive long-term success and excellence as it moves forward with its 2.0 vision for the future
Qatar Airways hosted its 2024 Investors’ Meeting in Doha, Qatar under the theme of “New Era of Dynamic and Sustainable Partnership”. The world’s leading aviation finance organisations, including leasing, banking, and insurance businesses attended the meeting for a holistic overview of Qatar Airways Group’s financial results, fleet and network expansion, competitive differentiation, sustainability efforts, and employee engagement plans. The high-profile attendees were also presented with the airline’s vision for the 2024-2025 fiscal year and beyond.
During the 2023-2024 fiscal year, Qatar Airways delivered the strongest financial performance in its 27-year history, reporting record-breaking net profits of QAR 6.1 billion (US$ 1.7 billion) and a total revenue of QAR 81 billion (US$ 22.2 billion). With this historic success, the World’s Best Airline, as voted by Skytrax in 2024, reaffirmed its steadfast commitment to balancing profitability with social and environmental responsibility, operational excellence, and people-centric initiatives.
Qatar Airways Group Chief Executive Officer, Engr. Badr Mohammed Al-Meer,said: “This year’s theme of the Annual Investors’ Conference was “New Era of Dynamic and Sustainable Partnership”, which highlighted the driving forces for the Qatar Airways 2.0 vision. As we embark on a new chapter in our airline’s success story, innovation, sustainability, and collaboration will guide our efforts to deliver long-term financial health, sustainably enhancing our global footprint and setting new benchmarks in travel solutions and passenger experiences. By maintaining customers and employees at the heart of our operations, we are ensuring continued growth and excellence for Qatar Airways Group for years to come.”
With one of the youngest fleets in the industry, Qatar Airways continues to grow both its global network and fleet size. The airline now has 94 Boeing 777X aircraft on order, including commercial and cargo aircrafts. The new addition will support the airline’s global operations, connecting passengers seamlessly to over 170 destinations through its award-winning hub, Hamad International Airport, the World’s Best Airport as voted by Skytrax in 2024.
Complementarily, the World’s Best Airline is embracing the future by investing in digital technologies and innovative solutions to elevate its product offerings, particularly in its First Class and Business Class cabins. This is demonstrated by the latest unveiling of the ‘QSuite Next Gen’ at Farnborough Airshow 2024, set to debut on Qatar Airways Boeing B777-9 aircraft by 2026.
Qatar Airways Group and Environmental Sustainability
During the meeting, sustainability discussions focused on a wide range of operational measures spanning fleet, flight operations, and technologies.
Qatar Airways Group is driving progress in environmental sustainability, a commitment that is integrated within its corporate culture. The airline is at the forefront of the aviation industry’s efforts to address climate change, particularly since the International Civil Aviation Organisation’s adoption of global climate goals in 2010. Qatar Airways’ strategy centres around four key pillars: advancing technology through fleet modernisation, optimising operations, utilising Sustainable Aviation Fuels and Lower Carbon Aviation Fuels, and participating in the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Qatar Airways Group has also achieved several industry-firsts in recent years, including being the first airline in the Middle East to join ICAO’s Global Coalition for Sustainable Aviation; securing an offtake agreement for 25 million gallons of neat SAF; achieving accreditation to the highest level of the IATA Environmental Assessment (IEnvA), to join the IATA Turbulence Aware platform and Globally: pioneering the use of the IATA Aviation Carbon Exchange; first air carrier to join the IATA CO2NNECT platform offering a voluntary carbon offsetting programme for air cargo shipments; and the first airline in the world to achieve certification to the Illegal Wildlife Trade Assessment to curb the transport of illegal wildlife and their products.
As the airline continues to expand, it remains dedicated to ensuring that its growth is both dynamic and sustainable, reflecting a steadfast commitment to environmental responsibility.
Strategic Partnerships
Qatar Airways also highlighted its competitive differentiation through product strategy and equity investments in leading airlines including its latest investment in Airlink.
Part of the Group’s ongoing strategic approach is to build deeper, more meaningful relationships with global audiences, solidifying the brand’s leadership position in the social media landscape during the financial year 2023-2024. As a result, Qatar Airways is now the world’s number one airline across social channels – with more than 47 million combined followers, and is the number one followed airline in the world on Facebook, TikTok, and YouTube.
Under the new leadership, Qatar Airways will prioritise collaborative leadership to drive long-term success through people-centric initiatives. By building a workplace culture that fosters trust, teamwork and empowerment, the airline’s internal efforts will drive employee-satisfaction which will translate into reinforcing Qatar Airways’ position as an industry leader in operational excellence and passenger satisfaction.
