Qatar Airways announced a 47 percent increase in passenger revenue during the 2003/2004 financial year, buoyed by a 35 percent increase in the number of passengers the five-star airline served in the last year. The airline carried more than 3.3 million passengers, up from 2.6 million passengers the year before. Qatar exceeded all commercial expectations during the last financial year, recording a 47 percent increase in passenger revenue and a whopping 73 percent increase in cargo revenue.