Qatar weathering storm

DESPITE the challenges over the last 12 months, Qatar Airways has reported an improved operating loss of US$288.3 million, marking a boost of 7%.

The carrier also managed to achieve an improvement in EBITDA, recording US$1.6 billion for the last 12 months, compared to US$1.4 billion in the previous corresponding period.

QR Group Chief Executive Akbar Al Baker said that the airline had shown “strength, resilience, and commitment” over the past year in light of the challenging climate, stating the business has never wavered in its commitment to customers and had not shied away from making difficult decisions required for recovery.

“Whilst our competitors grounded their aircraft and closed their routes, we adapted our entire commercial operation to respond to ever-evolving travel restrictions and never stopped flying, operating a network our passengers and customers could rely on,” Al Baker said.

“We also significantly expanded our charter business as a direct response to increased demand... providing vital and reliable services to support our customers during uncertain times.”

However the Doha-based carrier did report a net loss of US$4.1 billion for the latest financial year, with the bulk of the dent created by a one-time impairment charge related to the grounding of its Airbus A380 and A330 fleet.

Looking forward, QR indicated it would look to strengthen partnerships with airlines, invest in more sustainable technology and aviation fuel, as well as launch new routes.