Qatar Airways posts US$1.9 billion net loss as revenues rise 6.4pc

QATAR Airways posted a net loss of QAR7 billion (US$1

04 October 2020 - 19:00
QATAR Airways posted a net loss of QAR7 billion (US$1.9 billion) for the year 2019-20 drawn on revenues of QAR51.1 billion, up 6.4 per cent year on year.

Freight tonnes handled was up 2.8 per cent and revenue increased to QAR51.1 billion, and passenger traffic at Hamad International Airport increased by 8.6 per cent.

Passenger revenue grew 8.9 per cent with capacity (available seat kilometers) growth of 3.2 per cent. Qatar Airways carried 32.4 million passengers, an increase of 9.8 per cent in last financial year.

Said CEO Akbar Al Baker: 'I am extremely proud of the teams, departments and subsidiaries across the Qatar Airways Group that have remained agile throughout this tumultuous period and adapted quickly to this new reality, displaying the tenacity, versatility and commitment to excellence so often associated with everything we do.

'I have every confidence that the Qatar Airways Group will emerge stronger from this difficult period and continue to innovate and set the standards that our competitors can only hope to emulate,' he said.

Mr Akbar Al Baker said throughout the Covid crisis Qatar Airways had never fallen below 30 destinations with continuous services to five continents.

Since then, the airline has rebuilt its network to more than 650 weekly flights to over 90 destinations across six continents, said the company.

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