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Qatar Airways reports record $639 million loss

Qatar Airways, loss, Qatar, Aviation, GCC

The results mark a steeper loss from the previous year when the company was $69 million in the red.



By Agencies

Published: Thu 19 Sep 2019, 10:32 AM

Last updated: Thu 19 Sep 2019, 12:36 PM

Qatar Airways reported a loss of QR2.3 billion ($639 million) on Wednesday for the year ending March 31, as it grappled with the second year of an embargo by neighbours that has restricted its air routes and driven costs higher.
The results mark a steeper loss from the previous year when the company was $69 million in the red.
Group chief executive Akbar Al Baker said in a statement that the losses were attributable to "loss of mature routes, higher fuel costs and foreign exchange fluctuations" but said underlying fundamentals "remain extremely robust".
 


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