Qatar Airway Loses $69 million in 12 months

Qatar Airways posted a loss of 69 min and QAR 25 2 min because of the aftermath of the ongoing crisis of Doha with the neighboring Arab countries since the month of June in the year 2017.

Qatar airways have accredited this crisis to the political crisis of the region. They have confirmed that it is because of their failure to register the expected earnings shows loses for the financial year ending March, 2018 as per the financial statement which had been published by the company this Tuesday.

Figures Illustrating the Loss of Qatar Airways

  • A loss of 2.8 million passengers in the last year. The figure dropped from 32 million to 29.2 million.
  • A drop in the expected financial result, coming down from QAR 1.97 billion at the end of March 2017 to about a net loss of QAR 252 min at the end of the month March,
  • Loss of about 18 international destinations apart from the losses because of the added cost in avoiding the air embargoes and being made to sell or lease aircraft.

Loss of QAR 5.5 bln from an increase in the operation cost to about QAR 42.2 bln which was QAR 36.7 bln last year.

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