Major Middle Eastern carrier Qatar Airways is getting rid of First Class. But why?

On June 3, 2023, CEO Abkar Al-Baker made a statement about future deliveries of the airline's up-and-coming 777X order. He stated that contrary to previous indications, none of the new airframes destined for the airline would feature a First Class cabin. Originally, Qatar (QR) had plans to take on a small number of 777X aircraft fitted with First Class seats to cater to luxury demand to cities such as London, Paris, and New York.
Al-Baker also mentioned that once the airline retired the existing A380 fleet, none of the carrier's planes would feature a First Class cabin. So why the sudden elimination?
Over the past decade or so, the state-owned Qatari flag carrier has been hard at work raising its reputation and bringing in the idea that it is a high-quality airline capable of being the best in the world, a title the airline has had several times throughout the last few years.

Most significantly, the airline has received many accolades such as "World's Best Business Class" for its stunning QSuite business seats which can be found on the majority of the airline's fleet.
At the same time, the airline only operated one aircraft type featuring First Class, the Airbus A380, and it was already apparent that the CEO was not a fan of this cabin offering several years ago. He stated numerous times that there was simply no place for First Class in the industry with such wonderful Business Class products on offer.
He called it "redundant" and "unnecessary" as a way to show strong feelings against such a cabin. It may be true that these statements are only valid when one looks at the QSuite compared to a First-class suite, but they were made nonetheless.
Al-Baker once even called the purchase of the Airbus A380 (the only type to currently feature First class) "the worst decision our airline has ever made". It's clear from the CEO that First is on its way out.

The reduction in First Class offerings to increase Business Class quality has been a popular trend across the globe for several years, even before the pandemic decimated the demand further. And although rival Gulf airline Emirates continues to operate with First cabins on most of its fleet, the evidence is clear that First Class is reaching its limit.
Airlines are simply more keen on operating ever-increasing quality Business Class offerings at a larger scale that are affordable to a wider audience (while still making a profit), rather than continue to fly at a loss most of the time upfront in First.
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