Qatar Airways expects higher profits for 2024-25

Qatar Airways is expecting better profits in the 2024-25 fiscal year, according to CEO Badr Al Meer. He stated that the airline's earnings for the year ending March 31 will surpass those of previous years. Last year, Qatar Airways reported a record profit of 6.1 billion Qatari riyals, up 39 percent from the prior year. The airline has recently expanded its main hub, Hamad International Airport in Doha, by adding two new concourses. This expansion increases the airport's capacity to handle 65 million passengers annually. The new area has increased the total space of the airport by 14 percent and added 17 new boarding gates, boosting the total to 62. Al Meer noted that while the costs of the expansion are confidential, it will improve the airline's profitability. The expansion has also created many new jobs in the aviation and hospitality sectors, though specific numbers were not disclosed. Regarding future plans, Al Meer mentioned that discussions about a potential initial public offering (IPO) are ongoing. He said the matter is being reviewed by the Qatar Investment Authority and other government bodies. Additionally, Qatar Airways has been active in strategic investments, including a recent deal to acquire a 25 percent stake in Virgin Australia. Al Meer also confirmed that the airline is working closely with Rwanda Air on an equity investment but has no further acquisitions planned at this time. He emphasized that Qatar Airways is financially strong and does not plan to merge with other airlines, unlike some European carriers. The CEO also highlighted the airline's successful flights to and from China, which are generating significant revenue.