Qatar reports heavy losses

DOHA, Qatar, 4 October 2021: Qatar Airways Group reported a net loss of QAR14.9 billion (USD4.1 billion), of which QAR8.4 billion (USD2.3 billion) is due to a one-time impairment charge related to the grounding of the airline’s Airbus A380 and A330 fleets.

The results were published in its annual report for 2020/21 last week that concluded the ongoing Covid-19 pandemic caused extensive traffic and revenue loss, although the airline’s operating results demonstrated its resilience during the crisis. The airline reported an operational loss of QAR1.1 billion (USD288.3 million), 7% less than compared to 2019/20 results.

Despite enduring one of the most difficult years, the airline has rebuilt its network from a low of 33 destinations to more than 140 destinations today. The airline continued to identify new markets, launching nine new destinations – Abidjan, Côte d’Ivoire; Abuja, Nigeria; Accra, Ghana; Brisbane, Australia; Harare, Zimbabwe; Luanda, Angola; Lusaka, Zambia; San Francisco and Seattle in the US.

The carrier is one of only a few global airlines to continue operating flights to key cities, including Amsterdam, Dallas-Fort Worth, London, Montréal, São Paulo, Singapore, Johannesburg, Sydney and Tokyo. This is in addition to the expansion of Qatar Airways’ operations beyond pre-pandemic levels in several markets, including Brazil, Canada, Nigeria, and the US.

It has also forged new strategic partnerships with several major airlines, including American Airlines, Air Canada, Alaska Airlines and China Southern Airlines. In addition, it has expanded cooperation with several existing partners, including JetBlue, Iberia, LATAM, Cathay Pacific and Oman Air.

LEAVE A REPLY

Please enter your comment!
Please enter your name here