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Qatar Airways cargo unit posts highest profit in its history

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Air freight rates have skyrocketed since the start of the pandemic due to supply chain constraints

Dubai — Qatar Airways on Thursday posted its first annual profit since 2017 after years of losses blamed on a regional political dispute and the pandemic.

It said revenue climbed 78% to 52.3-billion riyal as passenger traffic more than tripled to 18.5-million, which was still down from the year before the Covid-19 pandemic struck. Air freight rates have skyrocketed since the start of the pandemic, in part due to constraints in the shipping industry. Qatar Airways is suing Airbus in a British court for $1bn in damages after grounding about two dozen of its A350s experiencing the flaws, which it says raise safety concerns — something Airbus and European regulators deny.

 

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