Industry: Qatar Airways Cotinues To Grow - Despite Poor Financial Performance in 2018-19

Qatar Airways' fleet size has grown by 57 percent, driven by its aggressive global expansion plan. Its fleet has grown from 159 aircraft in 2014-15 to 250 aircraft as of March 21 this year. It has been a tremendous journey for Qatar Airways Group, which had just four aircraft 20 years ago. 

Its fleet is made up of 203 passenger aircraft, 25 cargo and 22 Qatar Executive jets. In addition, the Group has sub-leased eight aircraft to Air Italy, according to recently launched Qatar Airways Annual Report 2018-19. 

With an average aircraft age of under five years, its state-of-the-art fleet continues to be one of the youngest and most modern in the industry.

It receives a new aircraft on average every 13.5 days, which allows it to continue its aggressive route expansion strategy and provide passengers with increased connectivity across the globe.

Even the unjust blockade imposed on Qatar by siege countries has failed to deter Qatar Airways from expanding its global network. Since the first day of the blockade, the airline has launched 24 new destinations. For many of these new destinations, Qatar Airways is the first Middle Eastern carrier to operate to that airport.

Such expansion plans will help the airline to reap long-term benefits by entering in these markets ahead of the competition. The fleet expansion plan is well-aligned with its route expansion plans. In the last financial year, it added 25 new aircraft to the fleet and also welcomed its 250th aircraft.

Qatar Airways added 11 new destinations to its global route map in 2018-19, extending its presence in Europe, and also launching new destinations in Africa, Asia and the Middle East. The airline carried around 29.5 million passengers during 2018-19. 

The airline's flexibility to effectively and quickly reposition its network has enabled it to continue grow while its competitors, unable to adjust to changing markets, are shrinking.

One the highlights of last year was taking the delivery of the world's first Airbus A350-1000, which is the world's most technologically advanced aircraft. 

With strong expansion plan ahead, the airline will continue to grow its fleet. The Group has more than 300 aircraft worth more than $85bn in order, including options and Letters of Intent.

Source: menafn.com