Qatar Airways Cargo's revenue down 25%, cargo carried up 11%

Qatar Airways Cargo carried 3,043k tonne cargo from 1 April 2023 to 31 March 2024 compared to the 2,694k tonne previous year and recorded QAR15,265 million ($4,186 million) revenue compared to QAR20,581 million ($5,644 million) the previous year.

While cargo carried increased 11 percent, revenue from cargo decreased 25 percent from the previous financial year.

The cargo carrier also announced that it had a 7.1 per cent market share, up by 0.04 per cent compared to the previous financial year.

Meanwhile, the Group reported the strongest financial performance in its 27-year history, with a total revenue of QAR81 billion (US$22.2 billion) and annual profits 39 per cent higher than the previous year.

The cargo carrier currently operates to more than 170 belly-hold and over 70 freighter destinations, utilising more than 200 passenger aircraft and its 28 Boeing 777 freighters.

It has a firm order for 34 Boeing 777-8 (and options for 16 more), to augment its streamlined fleet of Boeing 777 freighters.

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In fact, the cargo carrier also returned its two Boeing 747s during the 2023/24 fiscal year.

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