Reuters: Qatar Airways confirms “substantial” annual loss

Delivered on December 13, 2017

From Reuters:

Qatar Airways made a “substantial” loss in its last financial year because of a regional dispute that has banned the airline from four Arab countries, its chief executive said on Wednesday without revealing the extent of the losses.

Qatar Airways has been blocked from flying to 18 cities in Saudi Arabia, the United Arab Emirates, Bahrain and Egypt since June when those countries cut ties with Qatar, accusing it of supporting terrorism. Doha denies the charges.

“We have increased our operating costs. We had to also take a hit on revenues so we don’t think that our results for the last financial year will be very good,” Chief Executive Akbar al-Baker told reporters at the Eurasia Airshow in Antalya, Turkey.

“I don’t want to say the size of the loss but it was substantial.”

Copyright Photo: Qatar Airways Cargo Boeing 747-87UF A7-BGA (msn 37564) AMS (Ton Jochems). Image: 941620.

Qatar Airways aircraft slide show: