Qatar Airways Reports Net Loss of QAR 7 Billion

Qatar Airways reported a net loss of QAR 7 billion (approximately US$ 1.92 billion) in its 2019-20 Annual Report.

The group’s overall revenue and other operating income increased to QAR 51.1 billion, up 6.4 per cent when compared to the previous year.

Passenger revenue grew by 8.9 per cent with capacity (ASK) growth of 3.2 per cent. Qatar Airways carried 32.4 million passengers, an increase of 9.8 per cent over the previous financial year.

Freight tonnes handled increased by 2.8 per cent and passenger traffic at Hamad International Airport increased by 8.6 per cent

Qatar Airways invested QAR 16.8 billion in fleet and other assets during the year and had a cash balance of QAR 7.3 billion at year end.

Qatar Airways Group Chief Executive, Mr. Akbar Al Baker, said, “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. These efforts are why we have become the largest international airline and air freight carrier since the onset of the pandemic, taking over two million people home safely and reliably and carrying over 250,000 tonnes of medical and aid supplies to impacted regions.

“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. We will continue to be the airline millions of passengers can trust and rely on in good times and bad, and proudly fly the flag of the State of Qatar across the globe.”

Throughout the pandemic Qatar Airways’ network has 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. 

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