Qatar Airways posts record $1.5B profits ahead of World Cup

KIFI

Published June 16, 2022 6:51 AM

By AYA BATRAWY
Associated Press

DUBAI, United Arab Emirates (AP) — Qatar Airways, one of the Mideast’s largest carriers known for on-board comfort and luxury, says profits over the past fiscal year topped $1.5 billion. It marks 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, which will be held in Qatar later this year. The airline says revenue reached $14.4 billion, up 78% compared to last year. It’s a sharp reversal for the airline, which suffered a staggering net loss of $4.1 billion over the previous fiscal cycle due to the pandemic and the grounding of its Airbus A380 and A330 wide-body jets.

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