Qatar Airways reports strong year

The Qatari flag carrier reports a big increase in passenger numbers and revenues, but doesn't release profit/loss figures.

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By  David Ingham Published  May 23, 2004

Qatar Airways has rolled out some impressive statistics to illustrate its growth in the last financial year, but it hasn’t yet got round to releasing its profit/loss figures. Amongst the numbers that were released were a 35% year on year increase in passenger numbers to 3.3 million and a 47% increase in passenger revenue. Cargo revenue increased by 73%. “Our commercial results from the last financial year [ending March 31, 2004] demonstrate that the enormous growth of Qatar Airways continues, and will continue into the coming years,” said Akbar Al Baker, the airline’s chief executive. “The results cap a very good year in which we placed an order for 34 new aircraft, extended our route network to 49 cities, and were announced as one of three airlines to achieve Skytrax’s five star ranking.” Qatar Airways expects to carry 4.5 million passengers in the 2004-5 financial year, which runs April 1-March 31. In the next two years, it expects to add 20 new destinations to its current network of 49. Tehran, Zurich, Luxor, Istanbul, Kabul, Osaka and Johannesburg are scheduled to be added this year. Its fleet currently numbers 33 aircraft and is due to rise to 52 by 2008. The company does not release revenue or profit/loss figures and it is unclear whether it makes or loses money.

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