Qatar Air­ways Con­firms Sub­stan­tial An­nual Loss

EME Outlook - - News -

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 com­mented 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.

“We have in­creased our oper­at­ing costs, 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.

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