Qatar Airways posted the strongest financial performance in its 25-year history as the Doha-based airline reported a record net profit of US$1.54 billion during the fiscal year 2021/22, up 200 percent above its previous record.

Both the passenger and cargo business saw significant growth as passenger revenue increased by 210 percent over the last year. The revenue growth was attributed to network expansion, increase in market share and higher unit revenue, for the second year in a row, as the carrier greeted 18.5 million passengers, up 218 per cent over last year.

Meanwhile, Qatar Airways Cargo remained a leading player in air freight as it saw revenue jump 25 percent to US$6.326 billion over the previous year thanks to consistent growth in cargo capacity.

The airline transported more than 3 million tonnes of air freight, up almost 10 percent over the previous year, securing almost eight percent of the global market share.

In a show of commitment to the air cargo industry, the airline ordered up to 50 Boeing 777-8 freighters estimated at US$20 billion in January this year.