(MENAFN- The Peninsula)
Deepak John
|
The Peninsula
Doha, Qatar: The Qatar Airways Group's strategic investment in the world's most technologically-advanced aircraft has helped the airline to maintain agility when responding to opportunities and challenges.
The 2023/24 financial year saw Qatar Airways Group continue to hold a significant portfolio of investments in leading global airlines.
Overall the market values of our investments increased during the year as these airlines continued to recover from the COVID-19 pandemic and delivered strong performances in their respective markets. The Group also received dividend inflows from these investments throughout the year, noted Qatar Airways Group annual report for the financial year 2023/24.
Looking forward to the coming year,“Qatar Airways Group is confident these investments will continue to support Qatar Airways' ongoing growth and contribute towards its long-term sustainability objectives, which are in-line with Qatar's 2030 vision of sustainable development,” the report said.
As at 31 March 2024, the Group's core investment portfolio was comprised of International Airlines Group (IAG) - 25.1 percent, LATAM Airlines Group – 10 percent, Cathay Pacific Airways Ltd - 9.99 percent, and China Southern Airlines - 3.38 percent.
IAG is an Anglo-Spanish multinational airline holding company registered in Spain, which includes some of Europe's biggest aviation brands, including British Airways, Iberia, Aer Lingus, Vueling and LEVEL.
In July 2023, Qatar Airways Group expanded its valued partnership with IAG, joining British Airways and Iberia to create the world's largest airline joint business covering 60 countries.
LATAM is Latin America's leading airline group, with a presence in five domestic markets in South America, including Brazil, Chile, Colombia, Ecuador and Peru, along with international operations within Latin America, and to destinations further afield.
Cathay Pacific is an international airline based in Hong Kong operating scheduled passenger and cargo services to destinations in Asia, North America, Australasia, Europe and Africa.
China Southern is the largest airline in the People's Republic of China with both domestic and international operations.
Qatar Airways Group continued to grow its network and show great adaptability throughout the 2023/2024 financial year.
The national carrier of the State of Qatar maintained high levels of trust, reliability and confidence with passengers through seamless connectivity to more than 170 destinations worldwide.
During the 2023/24 fiscal year, Qatar Airways announced a key upgrade to the fleet offering with the redesign of its premium Qsuite Business Class, which redefined industry norms when it was first launched in 2017.
In addition to the Qsuite redesign, Qatar Airways Group also revealed plans for a unique and newly-designed First Class cabin on some of its fleet, combining the experience of flying commercial and executive jets for the first time in the airline's history.
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